ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) Stock Pass Above 200-Day Moving Average – Time to Sell?

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.02 and traded as high as $18.02. ProShares UltraShort Bloomberg Crude Oil shares last traded at $17.75, with a volume of 841,095 shares traded.

ProShares UltraShort Bloomberg Crude Oil Trading Down 2.9 %

The stock’s 50-day moving average is $18.33 and its two-hundred day moving average is $17.03.

Hedge Funds Weigh In On ProShares UltraShort Bloomberg Crude Oil

A hedge fund recently raised its stake in ProShares UltraShort Bloomberg Crude Oil stock. First National Corp MA ADV grew its position in ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) by 51.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,358 shares of the exchange traded fund’s stock after purchasing an additional 77,631 shares during the quarter. First National Corp MA ADV owned approximately 1.89% of ProShares UltraShort Bloomberg Crude Oil worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.