ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.14 and traded as high as $18.56. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.84, with a volume of 1,650,168 shares changing hands.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The stock has a 50-day simple moving average of $18.39 and a 200-day simple moving average of $17.14.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. First National Corp MA ADV lifted its holdings in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 229,358 shares of the exchange traded fund’s stock after buying an additional 77,631 shares during the period. First National Corp MA ADV owned 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 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.