Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Drops By 82.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,400 shares, a decline of 82.9% from the February 28th total of 14,000 shares. Based on an average trading volume of 9,200 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

ProShares Ultra Nasdaq Biotechnology Trading Up 0.7 %

BIB stock opened at $50.99 on Friday. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $47.20 and a 1-year high of $69.56. The business’s 50 day simple moving average is $54.25 and its 200 day simple moving average is $57.46. The firm has a market capitalization of $60.17 million, a PE ratio of 26.77 and a beta of 1.63.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be given a $0.1309 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, March 26th.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of hedge funds have recently modified their holdings of BIB. Crowley Wealth Management Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $51,000. Tower Research Capital LLC TRC increased its stake in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock worth $270,000 after purchasing an additional 1,266 shares during the period. Finally, 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 worth $306,000 after buying an additional 374 shares during the period.

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.