ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Down 6.8%

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO)’s share price fell 6.8% during trading on Wednesday . The stock traded as low as $16.34 and last traded at $17.03, 3,997,835 shares traded hands during mid-day trading. An increase of 16% from the average session volume of 3,434,521 shares. The stock had previously closed at $18.28.

The firm has a 50 day moving average of $18.40.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC increased its position in 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 worth $5,595,000 after buying an additional 236,612 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the second quarter worth $221,000. Meridian Wealth Management LLC purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the first quarter worth $29,000. U S Global Investors Inc. purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the first quarter worth $75,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in ProShares Ultra Bloomberg Crude Oil in the first quarter worth $290,000.

ProShares Ultra Bloomberg Crude Oil Company Profile (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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