ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.34 and traded as high as $28.26. ProShares Ultra Bloomberg Crude Oil shares last traded at $28.16, with a volume of 1,609,466 shares traded.

ProShares Ultra Bloomberg Crude Oil Stock Up 2.3 %

The firm’s 50 day moving average is $28.03 and its 200-day moving average is $27.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. X Square Capital LLC acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil in the 3rd quarter valued at $902,000. Farther Finance Advisors LLC acquired a new position in ProShares Ultra Bloomberg Crude Oil in the third quarter valued at about $25,000. Baker Avenue Asset Management LP purchased a new position in ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $636,000. IHT Wealth Management LLC acquired a new stake in shares of ProShares Ultra Bloomberg Crude Oil during the third quarter valued at about $376,000. Finally, JPMorgan Chase & Co. raised its stake in shares of ProShares Ultra Bloomberg Crude Oil by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,890 shares of the exchange traded fund’s stock valued at $328,000 after acquiring an additional 4,323 shares during the period.

About ProShares Ultra Bloomberg Crude Oil

ProShares Ultra DJ-UBS Crude Oil seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones UBS Crude Oil Sub-Index. The Dow Jones-UBS Crude Oil Sub-Index is intended to reflect the performance of crude oil as measured by the price of futures contracts of sweet, light crude oil traded on the New York Mercantile Exchange (the NYMEX), including roll costs, without regard to income earned on cash positions.