ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Shares Cross Above 200 Day Moving Average – Time to Sell?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.35 and traded as high as $18.54. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.95, with a volume of 1,466,287 shares traded.

ProShares UltraShort Bloomberg Crude Oil Price Performance

The business’s 50-day moving average price is $18.31 and its 200-day moving average price is $17.35.

Institutional Investors 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 boosted its stake in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 229,358 shares of the exchange traded fund’s stock after purchasing an additional 77,631 shares during the period. First National Corp MA ADV owned approximately 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 at the end of the most recent quarter.

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.