Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) are moving above their 200-day moving average of $16.71

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report ) share price broke above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $16.71 and traded as high as $17.59. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.29 with a volume of 1,677,709 shares.

ProShares UltraShort Bloomberg Crude Oil Down 4.6%

The stock’s 50-day simple moving average is $16.40, and its two-hundred-day simple moving average is $16.69.

Institutional Investors Intervene ProShares UltraShort Bloomberg Crude Oil

An institutional investor recently raised their position in ProShares UltraShort Bloomberg Crude Oil shares. IMC Chicago LLC increased its position in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Free Report ) by 287.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,776 shares of the exchange traded fund’s stock after purchasing an additional 74,044 shares during the quarter. IMC Chicago LLC owned approximately 0.88% of ProShares UltraShort Bloomberg Crude Oil worth $1,598,000 as of its most recent SEC filing.

About ProShares UltraShort Bloomberg Crude Oil

(Get a free report)

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

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