ProShares UltraShort Bloomberg Crude Oil Price & Performance (SCO)

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) recently traded above its 200-day moving average, signaling bullish momentum. The stock reached $18.50, surpassing its 200-day average of $17.69. Institutional interest is evident, with Mirae Asset Global Investments boosting its holdings by 5.4% in the fourth quarter, reflecting growing confidence in this ETF.1

ProShares UltraShort Bloomberg Crude Oil (NYSEARCA:SCO) continues to draw institutional interest as Atomi Financial Group acquired 10,379 shares during the fourth quarter. The ETF, designed to provide -2x daily returns on crude oil futures, also crossed its 200-day moving average, trading as high as $19.40, indicating robust trading activity.2

Recent trading signals suggest opportunities in ProShares UltraShort Bloomberg Crude Oil (SCO). Analysts recommend buying near $17.82 with a target of $19.79, while resistance levels at $19.48 and $19.79 indicate potential shorting points. The ETF’s active resistance testing reflects its appeal in volatile markets for both long and short strategies.3