ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Stock Pass Above 200 Day Moving Average – Here’s Why

Shares of ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.89 and traded as high as $30.28. ProShares Ultra Bloomberg Crude Oil shares last traded at $29.25, with a volume of 1,471,166 shares traded.

ProShares Ultra Bloomberg Crude Oil Trading Down 1.9 %

The company’s 50-day simple moving average is $27.21 and its 200-day simple moving average is $27.89.

Institutional Investors Weigh In On ProShares Ultra Bloomberg Crude Oil

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

ProShares Ultra Bloomberg Crude Oil Company Profile

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.