ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Set to Split on Thursday, November 19th

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares are going to split before the market opens on Thursday, November 19th. The 2-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Wednesday, November 18th.

ProShares Ultra Nasdaq Biotechnology Trading Up 5.3%

Shares of ProShares Ultra Nasdaq Biotechnology stock traded up $6.33 during midday trading on Wednesday, reaching $125.11. The company had a trading volume of 8,332 shares, compared to its average volume of 10,652. The company has a market capitalization of $107.59 million, a price-to-earnings ratio of 20.68 and a beta of 1.20. The stock has a fifty day simple moving average of $113.74 and a 200 day simple moving average of $95.24. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $67.50 and a 1-year high of $126.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kaizen Financial Strategies increased its position in ProShares Ultra Nasdaq Biotechnology by 4.7% in the first quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock worth $483,000 after purchasing an additional 250 shares during the period. Toth Financial Advisory Corp bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth about $118,000. Finally, Capital Investment Advisors LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth about $658,000.

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.