ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Significant Drop in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,600 shares, a decline of 33.3% from the March 15th total of 2,400 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 9,900 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. IMC Chicago LLC bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter valued at about $1,080,000. Tower Research Capital LLC TRC raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock worth $270,000 after acquiring an additional 1,266 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth approximately $51,000. Finally, Jane Street Group LLC boosted its holdings in ProShares Ultra Nasdaq Biotechnology by 8.4% in the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after acquiring an additional 374 shares during the last quarter.

ProShares Ultra Nasdaq Biotechnology Stock Up 0.3 %

NASDAQ BIB traded up $0.14 on Thursday, hitting $40.86. The company’s stock had a trading volume of 159 shares, compared to its average volume of 13,164. The company’s 50-day moving average is $50.25 and its 200 day moving average is $54.96. The firm has a market cap of $45.35 million, a PE ratio of 19.79 and a beta of 1.63. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $69.56.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a $0.1309 dividend. The ex-dividend date was Wednesday, March 26th. This represents a $0.52 dividend on an annualized basis and a yield of 1.28%.

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.