ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Hits New 1-Year Low – Here’s What Happened

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $16.42 and last traded at $16.45, with a volume of 2,757,351 shares changing hands. The stock had previously closed at $16.58.

ProShares UltraShort Bloomberg Crude Oil Stock Up 0.8%

The business has a fifty day moving average price of $21.26 and a 200 day moving average price of $26.35.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SCO. NewEdge Advisors LLC bought a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 1st quarter worth approximately $144,000. Integrated Investment Consultants LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $946,000. Arkadios Wealth Advisors acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $108,000. Talon Private Wealth LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $8,517,000. Finally, Waverly Advisors LLC acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the first quarter valued at approximately $83,000.

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.