ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Up – Here’s Why

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares gapped up before the market opened on Friday . The stock had previously closed at $28.46, but opened at $30.00. ProShares Ultra Bloomberg Crude Oil shares last traded at $30.44, with a volume of 713,544 shares traded.

ProShares Ultra Bloomberg Crude Oil Price Performance

The stock’s 50-day moving average price is $26.52 and its 200-day moving average price is $28.10.

Institutional Inflows and Outflows

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

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.