ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Share Price Pass Above 200-Day Moving Average – What’s Next?

Shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.21 and traded as high as $18.25. ProShares UltraShort Bloomberg Crude Oil shares last traded at $18.10, with a volume of 3,812,611 shares traded.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

The company has a 50 day moving average of $19.40 and a two-hundred day moving average of $18.21.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,000 shares of the exchange traded fund’s stock after purchasing an additional 4,653 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.85% of ProShares UltraShort Bloomberg Crude Oil worth $777,000 at the end of the most recent reporting period.

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.