Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Decreases By 29.2%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totaling 28,385 shares, a decline of 29.2% from the November 30th total of 40,112 shares. Based on an average daily trading volume, of 15,310 shares, the short-interest ratio is currently 1.9 days. Approximately 2.9% of the shares of the company are sold short. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 15,310 shares, the short-interest ratio is currently 1.9 days.

ProShares Ultra Nasdaq Biotechnology Trading Down 1.6%

ProShares Ultra Nasdaq Biotechnology stock opened at $81.45 on Tuesday. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $33.78 and a 12-month high of $84.34. The firm has a market capitalization of $79.01 million, a price-to-earnings ratio of 20.68 and a beta of 1.38. The firm has a 50 day moving average of $76.59 and a 200 day moving average of $62.25.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th will be given a dividend of $0.1346 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 24th.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of institutional investors have recently bought and sold shares of BIB. Laurel Wealth Advisors LLC raised its holdings in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after acquiring an additional 13,443 shares during the period. Palumbo Wealth Management LLC bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter worth about $766,000. Citadel Advisors LLC purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter worth about $307,000. Finally, Franklin Resources Inc. bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 2nd quarter valued at approximately $32,000.

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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.