ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Share Price Cross Above 200-Day Moving Average – Here’s Why

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 $17.62 and traded as high as $19.40. ProShares UltraShort Bloomberg Crude Oil shares last traded at $19.33, with a volume of 870,338 shares traded.

ProShares UltraShort Bloomberg Crude Oil Stock Up 3.7 %

The company has a 50-day moving average price of $16.55 and a two-hundred day moving average price of $17.62.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares UltraShort Bloomberg Crude Oil stock. Atomi Financial Group Inc. bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 10,379 shares of the exchange traded fund’s stock, valued at approximately $176,000. Atomi Financial Group Inc. owned about 0.09% of ProShares UltraShort Bloomberg Crude Oil 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.