ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Pass Below 50-Day Moving Average – Here’s What Happened

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $54.01 and traded as low as $53.07. ProShares Ultra Nasdaq Biotechnology shares last traded at $54.71, with a volume of 3,854 shares.

ProShares Ultra Nasdaq Biotechnology Trading Up 1.1 %

The company’s fifty day moving average is $54.02 and its two-hundred day moving average is $57.96. The stock has a market cap of $60.07 million, a price-to-earnings ratio of 26.77 and a beta of 1.44.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.3964 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

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

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.