ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Down to $18.53

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) gapped down prior to trading on Thursday . The stock had previously closed at $18.43, but opened at $18.53. ProShares Ultra Bloomberg Crude Oil shares last traded at $18.75, with a volume of 134,507 shares trading hands.

The business has a 50 day moving average of $17.30 and a 200 day moving average of $19.77.

Several hedge funds and other institutional investors have recently modified their holdings of UCO. Lido Advisors LLC raised its stake in shares of ProShares Ultra Bloomberg Crude Oil by 446.4% in the second quarter. Lido Advisors LLC now owns 289,612 shares of the exchange traded fund’s stock valued at $5,595,000 after purchasing an additional 236,612 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil in the first quarter valued at $290,000. Deutsche Bank AG acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at $178,000. Financial Advocates Investment Management bought a new stake in ProShares Ultra Bloomberg Crude Oil in the second quarter valued at $221,000. Finally, U S Global Investors Inc. bought a new stake in ProShares Ultra Bloomberg Crude Oil in the first quarter valued at $75,000.

About ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO)

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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