ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,600 shares, a drop of 33.3% from the March 15th total of 2,400 shares. Based on an average daily trading volume, of 9,900 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of ProShares Ultra Nasdaq Biotechnology stock opened at $41.39 on Friday. The business has a 50-day simple moving average of $50.01 and a 200 day simple moving average of $54.81. The firm has a market capitalization of $45.94 million, a price-to-earnings ratio of 19.79 and a beta of 1.63. ProShares Ultra Nasdaq Biotechnology has a one year low of $33.78 and a one year high of $69.56.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.1309 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of large investors have recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth $51,000. Tower Research Capital LLC TRC raised its holdings in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock worth $270,000 after acquiring an additional 1,266 shares during the last quarter. Jane Street Group LLC lifted its position in ProShares Ultra Nasdaq Biotechnology by 8.4% in the 3rd quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after acquiring an additional 374 shares in the last quarter. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology during the 1st quarter valued at about $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.