ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Sets New 52-Week Low – Should You Sell?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price hit a new 52-week low on Wednesday. The stock traded as low as $18.89 and last traded at $18.93, with a volume of 1706401 shares trading hands. The stock had previously closed at $19.47.

ProShares UltraShort Bloomberg Crude Oil Trading Down 1.6%

The firm’s fifty day moving average is $23.38 and its two-hundred day moving average is $27.42.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

Institutional investors and hedge funds have recently modified their holdings of the business. Brookstone Capital Management bought a new stake in ProShares UltraShort Bloomberg Crude Oil during the first quarter worth $8,930,000. Talon Private Wealth LLC bought a new position in ProShares UltraShort Bloomberg Crude Oil in the 1st quarter valued at $8,517,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter valued at $5,611,000. Group One Trading LLC raised its stake 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 worth $1,858,000 after purchasing an additional 191,767 shares during the period. Finally, Integrated Investment Consultants LLC bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth $946,000.

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.