ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Down – Here’s What Happened

Shares of ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) gapped down prior to trading on Thursday . The stock had previously closed at $31.49, but opened at $30.77. ProShares Ultra Bloomberg Crude Oil shares last traded at $30.77, with a volume of 81,763 shares.

ProShares Ultra Bloomberg Crude Oil Trading Down 0.6 %

The stock’s 50-day moving average is $26.84 and its two-hundred day moving average is $28.03.

Institutional Trading of ProShares Ultra Bloomberg Crude Oil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UCO. X Square Capital LLC purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the third quarter worth $902,000. Baker Avenue Asset Management LP purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the third quarter worth $636,000. IHT Wealth Management LLC purchased a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the third quarter worth $376,000. JPMorgan Chase & Co. increased its stake in shares of ProShares Ultra Bloomberg Crude Oil by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 12,890 shares of the exchange traded fund’s stock worth $328,000 after purchasing an additional 4,323 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of ProShares Ultra Bloomberg Crude Oil by 27.0% in the fourth quarter. SG Americas Securities LLC now owns 5,240 shares of the exchange traded fund’s stock worth $144,000 after purchasing an additional 1,114 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.