ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 17,197 shares, a decrease of 18.4% from the January 29th total of 21,087 shares. Based on an average daily volume of 9,589 shares, the short-interest ratio is currently 1.8 days. Currently, 1.6% of the shares of the stock are short sold. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 9,589 shares, the short-interest ratio is currently 1.8 days.

ProShares Ultra Nasdaq Biotechnology Stock Performance

ProShares Ultra Nasdaq Biotechnology stock opened at $85.99 on Thursday. The stock has a fifty day moving average of $84.14 and a 200-day moving average of $73.60. The stock has a market capitalization of $90.29 million, a P/E ratio of 20.68 and a beta of 1.38. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $33.78 and a 52 week high of $90.90.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $0.1346 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.6%.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $32,000. Citadel Advisors LLC bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $307,000. Kaizen Financial Strategies acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at $424,000. Laurel Wealth Advisors LLC grew its position in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock worth $630,000 after acquiring an additional 13,443 shares during the last quarter. Finally, Palumbo Wealth Management LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter worth about $766,000.

About ProShares Ultra Nasdaq Biotechnology

ProShares Ultra Nasdaq Biotechnology (the Fund) seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Index. The return of the Fund for a period longer than a single trading day will be the result of each day’s returns compounded over the period, which will very likely differ from the inverse of the return of the Dow Jones United States Basic Materials Index (the Index) for that period. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.