Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Declines By 82.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,400 shares, a decrease of 82.9% from the February 28th total of 14,000 shares. Based on an average daily trading volume, of 9,200 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Several large investors have recently made changes to their positions in BIB. Jane Street Group LLC raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 8.4% in the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund's stock worth $306,000 after acquiring an additional 374 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC raised its holdings in ProShares Ultra Nasdaq Biotechnology by 31.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund's stock worth $270,000 after purchasing an additional 1,266 shares during the period.

ProShares Ultra Nasdaq Biotechnology Stock Performance

ProShares Ultra Nasdaq Biotechnology stock traded down $0.88 during midday trading on Friday, hitting $50.11. 6,348 shares of the company were exchanged, compared to its average volume of 13,832. The business has a fifty day simple moving average of $54.24 and a two-hundred day simple moving average of $57.25. The firm has a market capitalization of $59.13 million, a PE ratio of 26.77 and a beta of 1.63. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $47.20 and a fifty-two week high of $69.56.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be issued a dividend of $0.1309 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 26th.

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.