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

ProShares Ultra Bloomberg Crude Oil (NYSEARCA:UCO)’s stock price gapped up before the market opened 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 trading hands.

ProShares Ultra Bloomberg Crude Oil Stock Performance

The business’s fifty day moving average price is $26.44 and its 200-day moving average price is $28.16.

Institutional Inflows and Outflows

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