Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Declines By 39.8%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 11,805 shares, a drop of 39.8% from the February 26th total of 19,619 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 13,601 shares, the short-interest ratio is currently 0.9 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of NASDAQ BIB opened at $73.81 on Friday. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $33.78 and a fifty-two week high of $90.90. The firm has a market capitalization of $77.50 million, a P/E ratio of 20.68 and a beta of 1.38. The company’s 50 day simple moving average is $83.35 and its 200 day simple moving average is $76.18.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.0071 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.03 dividend on an annualized basis and a yield of 0.0%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of hedge funds have recently modified their holdings of BIB. Kaizen Financial Strategies bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth approximately $424,000. Citadel Advisors LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth about $307,000. Palumbo Wealth Management LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at about $766,000. Laurel Wealth Advisors LLC raised its stake in shares of ProShares Ultra Nasdaq Biotechnology by 4,481.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after purchasing an additional 13,443 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the second quarter valued at about $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.