Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Declines By 29.2%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large decrease in short interest in December. As of December 15th, there was short interest totaling 28,385 shares, a decrease of 29.2% from the November 30th total of 40,112 shares. Based on an average daily trading volume, of 15,310 shares, the short-interest ratio is presently 1.9 days. Currently, 2.9% of the company’s stock are sold short. Currently, 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 15,310 shares, the short-interest ratio is presently 1.9 days.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of NASDAQ BIB opened at $82.74 on Monday. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $33.78 and a fifty-two week high of $84.34. The company has a market cap of $80.26 million, a PE ratio of 20.68 and a beta of 1.38. The business has a 50-day simple moving average of $76.34 and a two-hundred day simple moving average of $62.02.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th will be given a dividend of $0.1346 per share. This represents a $0.54 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 24th.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at $32,000. Citadel Advisors LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter valued at about $307,000. Palumbo Wealth Management LLC acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at about $766,000. Finally, Laurel Wealth Advisors LLC raised its stake in shares of 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 worth $630,000 after purchasing an additional 13,443 shares during the last quarter.

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.