ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Short Interest Update

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 2,193,088 shares, a drop of 35.8% from the April 15th total of 3,418,151 shares. Based on an average daily trading volume, of 5,425,205 shares, the days-to-cover ratio is presently 0.4 days. Currently, 23.2% of the shares of the company are sold short.

Trending Headlines about ProShares Ultra Bloomberg Crude Oil

Here are the key news stories impacting ProShares Ultra Bloomberg Crude Oil this week:

• Positive Sentiment: Crude prices have been supported by escalating geopolitical risk, including reports that the Strait of Hormuz remains closed and warnings that global oil inventories are being depleted quickly. IEA chief Birol: commercial oil inventories depleting rapidly, only weeks left
• Positive Sentiment: Market commentary says WTI has stayed around the $102 level and could push higher if supply disruptions persist, which is generally constructive for UCO. Natural Gas and Oil Forecast: Hormuz Crisis Keeps WTI at $102 — Can Bulls Push to $105?
• Positive Sentiment: Reuters and CNBC reported that oil prices rose on fears of extended supply disruption after stalled Iran-U.S. peace efforts and a drone attack in the region, reinforcing the bullish oil backdrop. Oil rises as Iran-U.S. deadlocked peace talks fan fears of extended supply disruption
• Neutral Sentiment: One Reuters report said U.S. crude futures fell more than 2% after President Trump said he had paused a planned attack on Iran, showing how quickly UCO can reverse if tensions ease. US crude futures fall over 2% as Trump says he holds off scheduled attack on Iran
• Neutral Sentiment: Reuters also noted a record draw from the U.S. Strategic Petroleum Reserve, which lowers emergency stockpiles but is less immediately impactful than the Iran/Hormuz headlines. Record oil draw from US emergency reserve drives total volumes to two-year low
• Negative Sentiment: Reports that Trump may hold off an attack on Iran could reduce the immediate risk premium in crude, which would weigh on UCO if de-escalation continues. US crude futures fall over 2% as Trump says he holds off scheduled attack on Iran

ProShares Ultra Bloomberg Crude Oil Stock Up 0.8%

NYSEARCA UCO traded up $0.42 during trading on Monday, reaching $50.62. 7,000,469 shares of the company traded hands, compared to its average volume of 8,088,093. The stock’s 50 day moving average price is $41.56 and its two-hundred day moving average price is $28.51. ProShares Ultra Bloomberg Crude Oil has a 1-year low of $18.12 and a 1-year high of $52.94.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Baker Avenue Asset Management LP raised its stake in shares of ProShares Ultra Bloomberg Crude Oil by 52.8% in the fourth quarter. Baker Avenue Asset Management LP now owns 115,750 shares of the exchange traded fund’s stock valued at $2,236,000 after acquiring an additional 40,000 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at approximately $859,000. Headlands Technologies LLC bought a new position in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at approximately $397,000. Spire Wealth Management raised its stake in shares of ProShares Ultra Bloomberg Crude Oil by 180.5% in the fourth quarter. Spire Wealth Management now owns 18,802 shares of the exchange traded fund’s stock valued at $363,000 after acquiring an additional 12,100 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at approximately $334,000.

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.