ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO – Get Free Report)’s stock price dropped 4.9% on Wednesday . The stock traded as low as $33.35 and last traded at $33.56. Approximately 2,324,201 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 2,207,040 shares. The stock had previously closed at $35.28.
ProShares Ultra Bloomberg Crude Oil Price Performance
The firm has a 50 day moving average of $31.47 and a two-hundred day moving average of $30.07.
Hedge Funds Weigh In On ProShares Ultra Bloomberg Crude Oil
A number of hedge funds and other institutional investors have recently made changes to their positions in UCO. Cambridge Investment Research Advisors Inc. acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil in the first quarter worth approximately $257,000. Flow Traders U.S. LLC increased its holdings in ProShares Ultra Bloomberg Crude Oil by 91.9% in the first quarter. Flow Traders U.S. LLC now owns 16,720 shares of the exchange traded fund’s stock worth $2,563,000 after purchasing an additional 8,009 shares in the last quarter. Lido Advisors LLC increased its holdings in ProShares Ultra Bloomberg Crude Oil by 2.6% in the first quarter. Lido Advisors LLC now owns 2,901 shares of the exchange traded fund’s stock worth $444,000 after purchasing an additional 73 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ProShares Ultra Bloomberg Crude Oil by 519.3% in the second quarter. JPMorgan Chase & Co. now owns 18,066 shares of the exchange traded fund’s stock worth $756,000 after purchasing an additional 15,149 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in ProShares Ultra Bloomberg Crude Oil by 185.0% in the second quarter. Millennium Management LLC now owns 9,114 shares of the exchange traded fund’s stock worth $382,000 after purchasing an additional 5,916 shares in the last quarter.
About ProShares Ultra Bloomberg Crude Oil
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.
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