ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Pass Above Two Hundred Day Moving Average of $16.60

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.60 and traded as high as $17.92. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.84, with a volume of 1,881,000 shares trading hands.

ProShares UltraShort Bloomberg Crude Oil Stock Up 7.6 %

The business’s 50 day moving average price is $16.65 and its 200-day moving average price is $16.61.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. IMC Chicago LLC grew its holdings in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 287.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,776 shares of the exchange traded fund’s stock after purchasing an additional 74,044 shares during the period. IMC Chicago LLC owned about 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

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.