ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 1,252,169 shares, a decrease of 32.7% from the July 30th total of 1,859,987 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily volume of 3,944,676 shares, the short-interest ratio is presently 0.3 days.
ProShares UltraShort Bloomberg Crude Oil Stock Down 6.1%
Shares of SCO traded down $1.47 during trading hours on Tuesday, reaching $22.50. 10,250,622 shares of the stock traded hands, compared to its average volume of 7,226,727. ProShares UltraShort Bloomberg Crude Oil has a 52-week low of $22.45 and a 52-week high of $84.14. The company’s 50-day moving average price is $28.89 and its two-hundred day moving average price is $32.88.
Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil
Several large investors have recently made changes to their positions in SCO. JPMorgan Chase & Co. bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the third quarter worth about $61,000. Cassaday & Co Wealth Management LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth approximately $30,000. Raymond James Financial Inc. bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth approximately $70,000. Waverly Advisors LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at approximately $83,000. Finally, Simplicity Wealth LLC purchased a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at approximately $91,000.
About ProShares UltraShort Bloomberg Crude Oil
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.
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