The ProShares Ultra DJ-UBS Crude Oil (UCO) is a short-term trading vehicle for those who are really bullish on oil. The fund seeks to deliver the performance equal to twice the daily performance of the Dow Jones UBS Crude Oil Subindex. Basically, this is a leveraged bet on the spot price of oil.
The value of this fund has been slammed of late, and over the past three months UCO is down more than 40%. Yet given the two-beta structure of this fund, it can be used to supercharge your gains in the energy space when the bull is running loose in the sector.
When oil prices are surging, UCO is a good place for your short-term money.
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