ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Shares Gap Up – What’s Next?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares gapped up prior to trading on Friday . The stock had previously closed at $28.46, but opened at $30.00. ProShares Ultra Bloomberg Crude Oil shares last traded at $30.44, with a volume of 713,544 shares.

ProShares Ultra Bloomberg Crude Oil Stock Performance

The company’s 50-day moving average is $26.44 and its 200-day moving average is $28.16.

Institutional Trading of ProShares Ultra Bloomberg Crude Oil

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the third quarter valued at about $25,000. JPMorgan Chase & Co. grew its position in ProShares Ultra Bloomberg Crude Oil by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 12,890 shares of the exchange traded fund’s stock valued at $328,000 after acquiring an additional 4,323 shares during the period. IHT Wealth Management LLC acquired a new stake in ProShares Ultra Bloomberg Crude Oil during the 3rd quarter worth approximately $376,000. Baker Avenue Asset Management LP purchased a new position in shares of ProShares Ultra Bloomberg Crude Oil in the 3rd quarter valued at $636,000. Finally, X Square Capital LLC acquired a new position in shares of ProShares Ultra Bloomberg Crude Oil during the third quarter worth about $902,000.

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.