Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Increases By 55.3%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large 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 stock are sold short.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of large investors have recently added to or reduced their stakes in BIB. Franklin Resources Inc. bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at about $32,000. Citadel Advisors LLC acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter worth approximately $307,000. Finally, Kaizen Financial Strategies boosted its stake in 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 purchasing an additional 250 shares in the last quarter.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of NASDAQ BIB opened at $126.22 on Thursday. The stock has a market capitalization of $102.24 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 $126.40. The business has a fifty day moving average price of $99.60 and a 200 day moving average price of $88.70.

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.