ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Price Pass Above 200 Day Moving Average – What’s Next?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.22 and traded as high as $17.88. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.65, with a volume of 1,354,961 shares trading hands.

ProShares UltraShort Bloomberg Crude Oil Stock Performance

The business’s 50-day simple moving average is $18.42 and its 200 day simple moving average is $17.23.

Institutional Investors Weigh In On ProShares UltraShort Bloomberg Crude Oil

An institutional investor recently raised its position in ProShares UltraShort Bloomberg Crude Oil stock. First National Corp MA ADV lifted its stake in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,358 shares of the exchange traded fund’s stock after acquiring an additional 77,631 shares during the quarter. First National Corp MA ADV owned 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 at the end of the most recent reporting period.

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.