ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Cross Below 50-Day Moving Average – Here’s Why

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $50.83 and traded as low as $40.77. ProShares Ultra Nasdaq Biotechnology shares last traded at $42.55, with a volume of 12,174 shares.

ProShares Ultra Nasdaq Biotechnology Price Performance

The stock has a market capitalization of $47.23 million, a P/E ratio of 19.79 and a beta of 1.63. The stock’s fifty day moving average price is $50.83 and its 200 day moving average price is $55.15.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a dividend of $0.1309 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.52 annualized dividend and a dividend yield of 1.23%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in ProShares Ultra Nasdaq Biotechnology by 8.4% during the 3rd quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after purchasing an additional 374 shares during the period. Crowley Wealth Management Inc. purchased a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC raised its stake 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 worth $270,000 after buying an additional 1,266 shares in the last quarter. Finally, IMC Chicago LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the first quarter worth $1,080,000.

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.