ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Sees Significant Decline in Short Interest

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,322,526 shares, a decrease of 16.3% from the January 15th total of 1,579,748 shares. Based on an average daily volume of 3,084,809 shares, the short-interest ratio is currently 0.4 days. Currently, 7.3% of the company’s stock are short sold. Currently, 7.3% of the company’s stock are short sold. Based on an average daily volume of 3,084,809 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Crude Oil

Several institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at $397,000. Simplex Trading LLC bought a new stake in ProShares Ultra Bloomberg Crude Oil in the 4th quarter valued at about $201,000. Baker Avenue Asset Management LP boosted its stake in ProShares Ultra Bloomberg Crude Oil by 52.8% during the 4th quarter. Baker Avenue Asset Management LP now owns 115,750 shares of the exchange traded fund’s stock valued at $2,236,000 after purchasing an additional 40,000 shares during the period. Spire Wealth Management grew its position in ProShares Ultra Bloomberg Crude Oil by 180.5% in the 4th quarter. Spire Wealth Management now owns 18,802 shares of the exchange traded fund’s stock worth $363,000 after purchasing an additional 12,100 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in ProShares Ultra Bloomberg Crude Oil in the 3rd quarter worth about $191,000.

ProShares Ultra Bloomberg Crude Oil Price Performance

NYSEARCA UCO opened at $22.51 on Monday. ProShares Ultra Bloomberg Crude Oil has a 52 week low of $17.78 and a 52 week high of $29.20. The company’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $21.54.

About ProShares Ultra Bloomberg Crude Oil

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.