ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Gap Down – What’s Next?

by · The Markets Daily

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO – Get Free Report)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $20.36, but opened at $19.64. ProShares UltraShort Bloomberg Crude Oil shares last traded at $19.68, with a volume of 1,658,195 shares changing hands.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The stock’s 50 day moving average price is $24.12 and its 200-day moving average price is $27.92.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

A number of institutional investors have recently bought and sold shares of SCO. Cassaday & Co Wealth Management LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter valued at about $30,000. Waverly Advisors LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter worth about $83,000. Simplicity Wealth LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $91,000. Arkadios Wealth Advisors purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the first quarter worth about $108,000. Finally, NewEdge Advisors LLC bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at approximately $144,000.

About ProShares UltraShort Bloomberg Crude Oil

(Get Free Report)

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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