ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 2,400 shares, a decline of 82.9% from the February 28th total of 14,000 shares. Based on an average trading volume of 9,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in ProShares Ultra Nasdaq Biotechnology by 31.2% in the 4th 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. Crowley Wealth Management Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth about $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 purchasing an additional 374 shares during the last quarter.

ProShares Ultra Nasdaq Biotechnology Price Performance

NASDAQ BIB traded down $1.66 during trading hours on Wednesday, hitting $50.63. The company had a trading volume of 4,873 shares, compared to its average volume of 14,834. The firm’s 50 day moving average is $54.24 and its 200 day moving average is $57.55. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $47.20 and a fifty-two week high of $69.56. The company has a market capitalization of $59.74 million, a price-to-earnings ratio of 26.77 and a beta of 1.63.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be paid a $0.1309 dividend. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.03%.

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.