ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Cross Above 200-Day Moving Average – Here’s Why

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.14 and traded as high as $18.56. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.84, with a volume of 1,650,168 shares.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The stock’s fifty day simple moving average is $18.39 and its two-hundred day simple moving average is $17.14.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares UltraShort Bloomberg Crude Oil stock. First National Corp MA ADV boosted its stake in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,358 shares of the exchange traded fund’s stock after buying an additional 77,631 shares during the period. First National Corp MA ADV owned about 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.