ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Cross Above 200-Day Moving Average – What’s Next?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.31 and traded as high as $28.74. ProShares Ultra Bloomberg Crude Oil shares last traded at $28.22, with a volume of 1,680,100 shares trading hands.

ProShares Ultra Bloomberg Crude Oil Trading Up 2.6 %

The business’s 50-day simple moving average is $26.15 and its 200-day simple moving average is $28.31.

Hedge Funds Weigh In On ProShares Ultra Bloomberg Crude Oil

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in ProShares Ultra Bloomberg Crude Oil during the third quarter valued at about $25,000. JPMorgan Chase & Co. grew its stake 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. IHT Wealth Management LLC purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil during the 3rd quarter valued at about $376,000. Baker Avenue Asset Management LP acquired a new position in ProShares Ultra Bloomberg Crude Oil during the 3rd quarter worth approximately $636,000. Finally, X Square Capital LLC purchased a new position in ProShares Ultra Bloomberg Crude Oil in the 3rd quarter worth approximately $902,000.

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.