ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Pass Above Two Hundred Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.69 and traded as high as $18.60. ProShares UltraShort Bloomberg Crude Oil shares last traded at $18.50, with a volume of 594,096 shares.

ProShares UltraShort Bloomberg Crude Oil Trading Down 2.9 %

The stock’s 50-day moving average is $16.92 and its 200-day moving average is $17.69.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

An institutional investor recently raised its position in ProShares UltraShort Bloomberg Crude Oil stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,347 shares of the exchange traded fund’s stock after buying an additional 2,000 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.32% of ProShares UltraShort Bloomberg Crude Oil worth $693,000 as of its most recent SEC filing.

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.