ProShares UltraShort Bloomberg Crude Oil Target of Unusually High Options Trading (NYSEARCA:SCO)

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) was the recipient of unusually large options trading on Monday. Traders bought 19,778 call options on the stock. This is an increase of 295% compared to the average volume of 5,002 call options.

ProShares UltraShort Bloomberg Crude Oil Stock Up 14.8%

SCO stock traded up $1.17 during trading on Monday, hitting $9.10. 47,931,494 shares of the company traded hands, compared to its average volume of 12,758,216. ProShares UltraShort Bloomberg Crude Oil has a 1 year low of $7.68 and a 1 year high of $24.51. The stock’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $17.04.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in ProShares UltraShort Bloomberg Crude Oil during the third quarter valued at $61,000. Raymond James Financial Inc. purchased a new stake in shares of ProShares UltraShort Bloomberg Crude Oil during the second quarter worth about $70,000. XTX Topco Ltd acquired a new position in shares of ProShares UltraShort Bloomberg Crude Oil during the 2nd quarter worth about $235,000. EverSource Wealth Advisors LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $271,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares UltraShort Bloomberg Crude Oil in the 2nd quarter valued at about $563,000.

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.