ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Climb 12.7% – Here’s What Happened

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) were up 12.7% on Wednesday. The stock traded as high as $19.17 and last traded at $19.17. 7,625,767 shares were traded during mid-day trading, an increase of 8% from the average session volume of 7,064,031 shares. The stock had previously closed at $17.01.

ProShares UltraShort Bloomberg Crude Oil Stock Up 13.1%

The stock has a fifty day moving average price of $19.59 and a 200-day moving average price of $32.66.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Several hedge funds have recently modified their holdings of SCO. Talon Private Wealth LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $8,517,000. Spectrum Financial Alliance Ltd LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth approximately $5,611,000. Group One Trading LLC grew its position in ProShares UltraShort Bloomberg Crude Oil by 607.7% during the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after acquiring an additional 191,767 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth approximately $946,000. Finally, Bank of New York Mellon Corp bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth approximately $832,000.

ProShares UltraShort Bloomberg Crude Oil Company Profile

The ProShares UltraShort Bloomberg Crude Oil (SCO) is an exchange-traded fund that is based on the Bloomberg WTI Crude Oil Subindex index. The fund provides -2x the daily return of an index of futures contracts on light sweet crude oil. SCO was launched on Nov 24, 2008 and is managed by ProShares.