ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Trading Down 4.9%

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares were down 4.9% on Wednesday . The company traded as low as $33.35 and last traded at $33.56. Approximately 2,324,201 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 2,207,040 shares. The stock had previously closed at $35.28.

ProShares Ultra Bloomberg Crude Oil Price Performance

The business’s fifty day simple moving average is $31.68 and its two-hundred day simple moving average is $30.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the first quarter valued at about $218,000. Tower Research Capital LLC TRC grew its position in shares of ProShares Ultra Bloomberg Crude Oil by 211.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 42,607 shares of the exchange traded fund’s stock valued at $1,112,000 after purchasing an additional 28,945 shares during the period. UBS Group AG acquired a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at about $546,000. Private Advisor Group LLC grew its position in shares of ProShares Ultra Bloomberg Crude Oil by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 67,050 shares of the exchange traded fund’s stock valued at $1,750,000 after purchasing an additional 2,150 shares during the period. Finally, Simplex Trading LLC acquired a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at about $248,000.

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.