ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) was the recipient of a significant decrease in short interest in 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. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 9,200 shares, the short-interest ratio is presently 0.3 days.
ProShares Ultra Nasdaq Biotechnology Stock Performance
Shares of NASDAQ BIB traded down $0.88 during midday trading on Friday, reaching $50.11. 6,348 shares of the company traded hands, compared to its average volume of 13,832. ProShares Ultra Nasdaq Biotechnology has a 12 month low of $47.20 and a 12 month high of $69.56. The stock's 50-day simple moving average is $54.24 and its 200-day simple moving average is $57.31. The firm has a market cap of $59.13 million, a PE ratio of 26.77 and a beta of 1.63.
ProShares Ultra Nasdaq Biotechnology Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 26th.
Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC raised its position 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 valued at $270,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in 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 purchasing an additional 374 shares in the last quarter.
About ProShares Ultra Nasdaq Biotechnology
(
Get Free Report)
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.
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