ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Short Interest Update

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 7,208,206 shares, an increase of 1,432.4% from the February 26th total of 470,400 shares. Currently, 95.3% of the shares of the company are sold short. Based on an average daily volume of 37,663,726 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 37,663,726 shares, the days-to-cover ratio is currently 0.2 days. Currently, 95.3% of the shares of the company are sold short.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in ProShares UltraShort Bloomberg Crude Oil during the third quarter worth about $61,000. Raymond James Financial Inc. acquired a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth approximately $70,000. XTX Topco Ltd bought a new stake in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter worth approximately $235,000. EverSource Wealth Advisors LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at approximately $271,000. Finally, Flow Traders U.S. LLC acquired a new position in ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter valued at approximately $563,000.

ProShares UltraShort Bloomberg Crude Oil Stock Down 6.3%

SCO stock traded down $0.55 during trading on Tuesday, hitting $8.21. 41,559,419 shares of the company’s stock traded hands, compared to its average volume of 14,069,948. ProShares UltraShort Bloomberg Crude Oil has a 52 week low of $7.68 and a 52 week high of $24.51. The stock has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $16.91.

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.