ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Share Price Pass Above 200-Day Moving Average – Should You Sell?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.69 and traded as high as $18.60. ProShares UltraShort Bloomberg Crude Oil shares last traded at $18.50, with a volume of 594,096 shares traded.

ProShares UltraShort Bloomberg Crude Oil Trading Down 2.9 %

The stock’s fifty day moving average is $16.92 and its two-hundred day moving average is $17.69.

Institutional Trading of ProShares UltraShort Bloomberg Crude Oil

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,347 shares of the exchange traded fund’s stock after purchasing an additional 2,000 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.32% of ProShares UltraShort Bloomberg Crude Oil worth $693,000 at the end of the most recent quarter.

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.