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

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 17,197 shares, a decline of 18.4% from the January 29th total of 21,087 shares. Based on an average trading volume of 9,589 shares, the short-interest ratio is presently 1.8 days. Currently, 1.6% of the company’s shares are short sold. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 9,589 shares, the short-interest ratio is presently 1.8 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

ProShares Ultra Nasdaq Biotechnology stock opened at $83.37 on Wednesday. The firm has a 50 day simple moving average of $84.10 and a 200-day simple moving average of $73.51. The stock has a market cap of $87.54 million, a price-to-earnings ratio of 20.68 and a beta of 1.38. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $90.90.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

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

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

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

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.