Palumbo Wealth Management LLC Takes Position in ProShares Ultra Nasdaq Biotechnology $BIB

Palumbo Wealth Management LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,851 shares of the exchange traded fund’s stock, valued at approximately $766,000.

Separately, Laurel Wealth Advisors LLC increased its stake in ProShares Ultra Nasdaq Biotechnology by 4,481.0% in the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after purchasing an additional 13,443 shares during the period.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of NASDAQ:BIB opened at $87.37 on Tuesday. The company has a 50-day simple moving average of $83.29 and a 200-day simple moving average of $72.08. ProShares Ultra Nasdaq Biotechnology has a one year low of $33.78 and a one year high of $89.06. The stock has a market capitalization of $91.74 million, a price-to-earnings ratio of 20.68 and a beta of 1.38.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

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

ProShares Ultra Nasdaq Biotechnology Company Profile

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.