ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Shorted: Short Interest Up 85.9% in September

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 7,709 shares, an increase of 85.9% from the September 15th total of 4,147 shares. Based on an average daily trading volume, of 5,937 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.9% of the company’s shares are sold short.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares Ultra Nasdaq Biotechnology stock. Toth Financial Advisory Corp bought a new position in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,022 shares of the exchange traded fund’s stock, valued at approximately $118,000. Toth Financial Advisory Corp owned about 0.12% of ProShares Ultra Nasdaq Biotechnology at the end of the most recent reporting period.

ProShares Ultra Nasdaq Biotechnology Stock Down 3.4%

Shares of BIB traded down $3.79 during midday trading on Friday, hitting $107.32. The company had a trading volume of 2,298 shares, compared to its average volume of 10,737. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $65.48 and a 52 week high of $126.40. The company’s 50 day moving average price is $113.57 and its 200 day moving average price is $97.71. The stock has a market cap of $90.15 million, a price-to-earnings ratio of 20.68 and a beta of 1.20.

ProShares Ultra Nasdaq Biotechnology Company Profile

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.