Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Rises By 737.5%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 13,400 shares, an increase of 737.5% from the March 31st total of 1,600 shares. Based on an average daily volume of 10,600 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.2% of the shares of the company are sold short.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of BIB opened at $44.61 on Friday. ProShares Ultra Nasdaq Biotechnology has a one year low of $33.78 and a one year high of $69.56. The stock’s fifty day moving average is $48.67 and its 200-day moving average is $53.98. The firm has a market capitalization of $49.07 million, a price-to-earnings ratio of 21.19 and a beta of 1.49.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 yield of 1.17%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crowley Wealth Management Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted its stake in ProShares Ultra Nasdaq Biotechnology by 31.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after purchasing an additional 1,266 shares in the last quarter. Jane Street Group LLC increased its position in shares of 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. Finally, IMC Chicago LLC bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth $1,080,000.

About ProShares Ultra Nasdaq Biotechnology

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.