ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Down 18.4% in February

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 17,197 shares, a drop of 18.4% from the January 29th total of 21,087 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,589 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 9,589 shares, the short-interest ratio is currently 1.8 days. Currently, 1.6% of the shares of the stock are sold short.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of BIB opened at $87.32 on Tuesday. The company has a market capitalization of $91.69 million, a P/E ratio of 20.68 and a beta of 1.38. ProShares Ultra Nasdaq Biotechnology has a one year low of $33.78 and a one year high of $90.90. The business’s 50 day simple moving average is $84.09 and its 200-day simple moving average is $73.32.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were given a $0.1346 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.54 annualized dividend and a yield of 0.6%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in BIB. Kaizen Financial Strategies bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $424,000. Citadel Advisors LLC bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter worth about $307,000. Palumbo Wealth Management LLC acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter worth approximately $766,000. Laurel Wealth Advisors LLC lifted its position in shares of 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 worth $630,000 after purchasing an additional 13,443 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the second 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.