ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Short Interest Rises 85.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 7,709 shares, a growth of 85.9% from the September 15th total of 4,147 shares. Based on an average trading volume of 5,937 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.9% of the company’s stock are sold short.

ProShares Ultra Nasdaq Biotechnology Stock Down 5.4%

Shares of BIB traded down $6.01 during midday trading on Friday, reaching $105.10. 8,352 shares of the stock were exchanged, compared to its average volume of 10,771. The company has a market cap of $88.28 million, a price-to-earnings ratio of 20.68 and a beta of 1.20. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $65.48 and a 12-month high of $126.40. The firm has a 50 day simple moving average of $113.54 and a 200-day simple moving average of $97.76.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares Ultra Nasdaq Biotechnology stock. Toth Financial Advisory Corp bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,022 shares of the exchange traded fund’s stock, valued at approximately $118,000. Toth Financial Advisory Corp owned approximately 0.12% of ProShares Ultra Nasdaq Biotechnology at the end of the most recent reporting period.

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.