ProShares UltraShort Bloomberg Crude Oil Sees Unusually Large Options Volume (NYSEARCA:SCO)

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 22,922 call options on the company. This is an increase of approximately 14% compared to the typical daily volume of 20,133 call options.

ProShares UltraShort Bloomberg Crude Oil Price Performance

Shares of NYSEARCA:SCO traded up $0.48 during trading on Wednesday, reaching $6.31. The company had a trading volume of 50,650,805 shares, compared to its average volume of 31,074,816. The company has a fifty day moving average of $7.72 and a two-hundred day moving average of $14.11. ProShares UltraShort Bloomberg Crude Oil has a 12 month low of $5.71 and a 12 month high of $21.47.

Shares of ProShares UltraShort Bloomberg Crude Oil are going to reverse split on Thursday, May 28th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Several institutional investors and hedge funds have recently made changes to their positions in SCO. Brookstone Capital Management bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $8,930,000. Talon Private Wealth LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $8,517,000. Spectrum Financial Alliance Ltd LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $5,611,000. Group One Trading LLC grew its holdings in shares of ProShares UltraShort Bloomberg Crude Oil by 607.7% during the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock valued at $1,858,000 after purchasing an additional 191,767 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at $3,076,000.

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.