ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Significant Growth in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 16,800 shares, a growth of 100.0% from the September 30th total of 8,400 shares. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is presently 1.4 days.

ProShares Ultra Nasdaq Biotechnology Stock Performance

ProShares Ultra Nasdaq Biotechnology stock traded up $0.12 during midday trading on Friday, reaching $61.85. 4,349 shares of the stock traded hands, compared to its average volume of 24,261. The company has a 50-day simple moving average of $64.66 and a two-hundred day simple moving average of $60.59. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $40.10 and a 12-month high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were paid a $0.1528 dividend. This is a positive change from ProShares Ultra Nasdaq Biotechnology's previous dividend of $0.04. The ex-dividend date of this dividend was Wednesday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIB. Toth Financial Advisory Corp grew its stake in ProShares Ultra Nasdaq Biotechnology by 132.3% during the 1st quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund's stock worth $1,502,000 after purchasing an additional 14,870 shares in the last quarter. Westwood Wealth Management purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the first quarter worth approximately $575,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the first quarter valued at approximately $288,000.

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.