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

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.66 and traded as high as $22.16. ProShares UltraShort Bloomberg Crude Oil shares last traded at $21.22, with a volume of 995,842 shares traded.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The stock has a 50-day moving average price of $18.15 and a two-hundred day moving average price of $17.66.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A hedge fund recently bought a new stake in ProShares UltraShort Bloomberg Crude Oil stock. Atomi Financial Group Inc. bought a new position in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,379 shares of the exchange traded fund’s stock, valued at approximately $176,000. Atomi Financial Group Inc. owned approximately 0.09% of ProShares UltraShort Bloomberg Crude Oil at the end of the most recent quarter.

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.