ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Large Increase in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 9,200 shares, a growth of 76.9% from the July 31st total of 5,200 shares. Based on an average daily trading volume, of 15,800 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $2,435,000. Toth Financial Advisory Corp raised its stake 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 valued at $1,502,000 after purchasing an additional 14,870 shares during the period. Westwood Wealth Management acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter valued at 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 valued at about $288,000. Finally, Clarity Capital Partners LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $201,000.

ProShares Ultra Nasdaq Biotechnology Stock Up 0.6 %

Shares of NASDAQ:BIB traded up $0.43 during midday trading on Thursday, hitting $67.47. The company had a trading volume of 8,290 shares, compared to its average volume of 27,252. ProShares Ultra Nasdaq Biotechnology has a 12 month low of $40.10 and a 12 month high of $69.56. The firm has a fifty day simple moving average of $63.68 and a 200 day simple moving average of $58.63.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders 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 is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04. This represents a $1.06 annualized dividend and a yield of 1.57%.

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.