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

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $54.08 and traded as low as $52.40. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.13, with a volume of 14,819 shares traded.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The business’s 50 day moving average price is $54.08 and its two-hundred day moving average price is $60.75.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.3964 per share. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC raised its position in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,803 shares of the exchange traded fund’s stock after buying an additional 374 shares during the quarter. Jane Street Group LLC owned about 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 at the end of the most recent quarter.

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.