Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Grows By 17.1%

Posted by James Quigley on Dec 3rd, 2024

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 8,900 shares, a growth of 17.1% from the October 31st total of 7,600 shares. Based on an average trading volume of 12,800 shares, the days-to-cover ratio is presently 0.7 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

BIB traded down $0.42 on Tuesday, hitting $59.29. The company had a trading volume of 5,364 shares, compared to its average volume of 23,051. The stock has a fifty day moving average price of $61.50 and a 200-day moving average price of $62.09. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $46.07 and a 12-month high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,803 shares of the exchange traded fund’s stock after purchasing an additional 374 shares during the period. Jane Street Group LLC owned approximately 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 at the end of the most recent reporting period.

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.