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

Posted by Jim Brewer on Dec 14th, 2024

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 4,200 shares, a decline of 52.8% from the November 15th total of 8,900 shares. Based on an average daily volume of 12,700 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC raised its position in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,803 shares of the exchange traded fund’s stock after buying an additional 374 shares during the period. Jane Street Group LLC owned about 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

ProShares Ultra Nasdaq Biotechnology Stock Down 1.5 %

Shares of BIB stock traded down $0.85 during trading on Friday, hitting $54.54. 12,907 shares of the stock traded hands, compared to its average volume of 22,599. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $47.19 and a 52-week high of $69.56. The firm’s fifty day moving average price is $60.56 and its 200-day moving average price is $62.05.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were paid a $0.1528 dividend. The ex-dividend date was Wednesday, September 25th. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04.

ProShares Ultra Nasdaq Biotechnology Company Profile

(Get Free Report)

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.