ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) Share Price Pass Above 200-Day Moving Average – Should You Sell?

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.85 and traded as high as $27.49. ProShares Ultra Bloomberg Crude Oil shares last traded at $27.44, with a volume of 818,514 shares changing hands.

ProShares Ultra Bloomberg Crude Oil Trading Down 9.9 %

The stock has a fifty day moving average of $26.35 and a 200 day moving average of $26.80.

Institutional Trading of ProShares Ultra Bloomberg Crude Oil

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in ProShares Ultra Bloomberg Crude Oil by 50.5% in the 3rd 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. Spire Wealth Management bought a new stake in shares of ProShares Ultra Bloomberg Crude Oil in the fourth quarter valued at approximately $192,000. SG Americas Securities LLC lifted its stake in shares of ProShares Ultra Bloomberg Crude Oil by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 5,240 shares of the exchange traded fund’s stock valued at $144,000 after buying an additional 1,114 shares in the last quarter. IHT Wealth Management LLC bought a new position in ProShares Ultra Bloomberg Crude Oil in the 3rd quarter worth approximately $376,000. Finally, WT Wealth Management purchased a new position in ProShares Ultra Bloomberg Crude Oil in the 4th quarter valued at approximately $202,000.

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.