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

Shares of ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) gapped down prior to trading on Monday . The stock had previously closed at $29.62, but opened at $28.77. ProShares Ultra Bloomberg Crude Oil shares last traded at $28.94, with a volume of 366,800 shares.

ProShares Ultra Bloomberg Crude Oil Stock Down 3.0 %

The company has a 50 day simple moving average of $27.69 and a 200-day simple moving average of $30.78.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brookstone Capital Management bought a new position in ProShares Ultra Bloomberg Crude Oil in the first quarter worth approximately $218,000. Headlands Technologies LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil during the 1st quarter valued at $317,000. Quadrature Capital Ltd bought a new stake in ProShares Ultra Bloomberg Crude Oil during the 1st quarter valued at $396,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in ProShares Ultra Bloomberg Crude Oil during the first quarter worth $1,650,000. Finally, Private Advisor Group LLC lifted its stake in shares of ProShares Ultra Bloomberg Crude Oil by 0.5% in the first quarter. Private Advisor Group LLC now owns 67,400 shares of the exchange traded fund’s stock valued at $2,224,000 after buying an additional 350 shares in the last quarter.

About ProShares Ultra Bloomberg Crude Oil

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.