ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Short Interest Rises 85.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 7,709 shares, a growth of 85.9% from the September 15th total of 4,147 shares. Based on an average daily volume of 5,937 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares Ultra Nasdaq Biotechnology stock. Toth Financial Advisory Corp purchased a new stake in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,022 shares of the exchange traded fund’s stock, valued at approximately $118,000. Toth Financial Advisory Corp owned about 0.12% of ProShares Ultra Nasdaq Biotechnology as of its most recent filing with the Securities and Exchange Commission.

ProShares Ultra Nasdaq Biotechnology Price Performance

BIB stock opened at $106.82 on Thursday. ProShares Ultra Nasdaq Biotechnology has a one year low of $65.01 and a one year high of $126.40. The stock has a market cap of $89.73 million, a price-to-earnings ratio of 20.68 and a beta of 1.20. The company has a fifty day moving average price of $113.40 and a two-hundred day moving average price of $97.44.

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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.