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

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 Price Performance

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

Hedge Funds 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 grew its position in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,358 shares of the exchange traded fund’s stock after purchasing an additional 77,631 shares during the quarter. First National Corp MA ADV owned approximately 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 as of its most recent SEC filing.

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.