ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 220.0% in July

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 8,000 shares, a growth of 220.0% from the June 30th total of 2,500 shares. Based on an average daily volume of 18,300 shares, the short-interest ratio is presently 0.4 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of NASDAQ BIB traded up $1.67 during trading on Thursday, hitting $67.91. 5,902 shares of the company traded hands, compared to its average volume of 29,749. The business’s fifty day moving average is $59.87 and its 200 day moving average is $57.42. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $40.10 and a fifty-two week high of $69.53.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were issued a dividend of $0.2648 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $1.06 annualized dividend and a dividend yield of 1.56%. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Institutional investors have recently made changes to their positions in the stock. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter worth about $2,435,000. Toth Financial Advisory Corp raised its holdings in shares of ProShares Ultra Nasdaq Biotechnology by 132.3% in the 1st quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock worth $1,502,000 after acquiring an additional 14,870 shares during the last quarter. Westwood Wealth Management acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth about $575,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth about $288,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter worth about $228,000.

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.