ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 282.0% in August

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 15,453 shares, an increase of 282.0% from the July 30th total of 4,045 shares. Based on an average trading volume of 9,306 shares, the short-interest ratio is presently 1.7 days. Approximately 1.9% of the company’s shares are short sold.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Institutional investors have recently modified their holdings of the company. Kaizen Financial Strategies increased its position in ProShares Ultra Nasdaq Biotechnology by 4.7% during the 1st quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock worth $483,000 after purchasing an additional 250 shares in the last quarter. Citadel Advisors LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the third quarter worth approximately $307,000. Finally, Franklin Resources Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the second quarter worth approximately $32,000.

ProShares Ultra Nasdaq Biotechnology Trading Down 4.5%

NASDAQ:BIB traded down $5.60 on Friday, hitting $117.55. 2,792 shares of the stock were exchanged, compared to its average volume of 11,296. The stock has a market cap of $95.22 million, a PE ratio of 20.68 and a beta of 1.20. The stock has a fifty day moving average of $104.25 and a 200-day moving average of $90.30. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $54.85 and a fifty-two week high of $126.40.

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.