Short Interest in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Drops By 25.9%

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 573,600 shares, a decline of 25.9% from the August 31st total of 773,600 shares. Based on an average daily trading volume, of 2,340,200 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 2,340,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in ProShares UltraShort Bloomberg Crude Oil by 237.5% during the second quarter. Tower Research Capital LLC TRC now owns 64,182 shares of the exchange traded fund’s stock valued at $1,159,000 after purchasing an additional 45,164 shares during the period. Group One Trading LLC lifted its holdings in shares of ProShares UltraShort Bloomberg Crude Oil by 64.4% in the 2nd quarter. Group One Trading LLC now owns 56,155 shares of the exchange traded fund’s stock valued at $1,014,000 after buying an additional 21,999 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $70,000. Jump Financial LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $3,076,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $563,000.

ProShares UltraShort Bloomberg Crude Oil Trading Down 0.5%

NYSEARCA:SCO opened at $17.52 on Thursday. The firm has a fifty day simple moving average of $17.23 and a 200-day simple moving average of $18.24. ProShares UltraShort Bloomberg Crude Oil has a 12 month low of $14.57 and a 12 month high of $24.51.

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.