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

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 4,045 shares, a growth of 55.3% from the July 15th total of 2,604 shares. Based on an average trading volume of 6,823 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.5% of the company’s shares are sold short.

ProShares Ultra Nasdaq Biotechnology Trading Up 2.8%

ProShares Ultra Nasdaq Biotechnology stock opened at $109.88 on Tuesday. The firm has a market cap of $89.00 million, a P/E ratio of 20.68 and a beta of 1.20. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $54.56 and a 1-year high of $110.25. The firm has a 50-day moving average of $98.02 and a 200-day moving average of $88.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kaizen Financial Strategies grew its position in shares of ProShares Ultra Nasdaq Biotechnology by 4.7% in the 1st quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock worth $483,000 after buying an additional 250 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter valued at approximately $307,000. Finally, Franklin Resources Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology during the second quarter valued at approximately $32,000.

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