Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Declines By 23.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 8,900 shares, adeclineof23.9% from the July 15th total of 11,700 shares. Approximately0.9% of the shares of the company are short sold. Based on an average daily volume of 8,600 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 8,600 shares, the short-interest ratio is presently 1.0 days. Approximately0.9% of the shares of the company are short sold.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several large investors have recently added to or reduced their stakes in BIB. Franklin Resources Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the second quarter valued at approximately $32,000. PNC Financial Services Group Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the first quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its position in ProShares Ultra Nasdaq Biotechnology by 31.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after buying an additional 1,266 shares during the last quarter. Laurel Wealth Advisors LLC boosted its position in ProShares Ultra Nasdaq Biotechnology by 4,481.0% in the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after buying an additional 13,443 shares during the last quarter. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter valued at $1,080,000.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of BIB opened at $55.6550 on Thursday. The firm has a market capitalization of $56.21 million, a PE ratio of 20.68 and a beta of 1.63. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $69.17. The company’s fifty day moving average price is $49.78 and its 200-day moving average price is $48.57.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.1706 per share. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, June 25th. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.13.

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.