ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Pass Above 50 Day Moving Average – Time to Sell?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $44.98 and traded as high as $48.40. ProShares Ultra Nasdaq Biotechnology shares last traded at $48.34, with a volume of 4,898 shares changing hands.

ProShares Ultra Nasdaq Biotechnology Stock Up 0.9%

The stock has a market cap of $49.31 million, a price-to-earnings ratio of 20.68 and a beta of 1.63. The stock has a fifty day moving average of $44.98 and a two-hundred day moving average of $48.72.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were issued a $0.1706 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIB. PNC Financial Services Group Inc. purchased a new position in ProShares Ultra Nasdaq Biotechnology in the first quarter valued at about $48,000. IMC Chicago LLC purchased a new position in ProShares Ultra Nasdaq Biotechnology in the first quarter valued at about $1,080,000. Tower Research Capital LLC TRC raised its position in ProShares Ultra Nasdaq Biotechnology by 31.2% in the fourth 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 period. Finally, Crowley Wealth Management Inc. purchased a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $51,000.

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.