NewEdge Advisors LLC Takes $144,000 Position in ProShares UltraShort Bloomberg Crude Oil $SCO

NewEdge Advisors LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 17,250 shares of the exchange traded fund’s stock, valued at approximately $144,000.

Other hedge funds have also bought and sold shares of the company. Arkadios Wealth Advisors acquired a new position in ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at $108,000. Talon Private Wealth LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth about $8,517,000. Waverly Advisors LLC acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth about $83,000. Group One Trading LLC raised its position in shares of ProShares UltraShort Bloomberg Crude Oil by 607.7% in the 1st quarter. Group One Trading LLC now owns 223,321 shares of the exchange traded fund’s stock worth $1,858,000 after acquiring an additional 191,767 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 1st quarter worth about $30,000.

ProShares UltraShort Bloomberg Crude Oil Price Performance

Shares of NYSEARCA:SCO opened at $30.91 on Thursday. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $22.84 and a 1 year high of $84.14. The business’s 50-day moving average is $29.75 and its 200-day moving average is $38.08.

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.