ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Large Drop in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 21,087 shares, a decline of 27.9% from the January 15th total of 29,246 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average trading volume of 12,905 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 12,905 shares, the short-interest ratio is presently 1.6 days. Currently, 2.0% of the shares of the company are sold short.

ProShares Ultra Nasdaq Biotechnology Stock Up 2.2%

NASDAQ BIB opened at $84.94 on Friday. The stock has a market capitalization of $89.19 million, a P/E ratio of 20.68 and a beta of 1.38. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $33.78 and a 52-week high of $89.06. The firm has a 50-day moving average price of $82.48 and a 200 day moving average price of $70.31.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were given a dividend of $0.1346 per share. The ex-dividend date was Wednesday, December 24th. This represents a $0.54 annualized dividend and a yield of 0.6%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth about $32,000. Citadel Advisors LLC purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at about $307,000. Kaizen Financial Strategies acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $424,000. Palumbo Wealth Management LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at approximately $766,000. Finally, Laurel Wealth Advisors LLC increased its stake in shares of ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock worth $630,000 after purchasing an additional 13,443 shares in the last quarter.

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.