ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Pass Below Two Hundred Day Moving Average – What’s Next?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $59.59 and traded as low as $55.06. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The firm has a 50 day moving average price of $53.40 and a 200-day moving average price of $59.54.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.3964 per share. 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

Large investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of ProShares Ultra Nasdaq Biotechnology by 8.4% during the 3rd quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 374 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock worth $270,000 after buying an additional 1,266 shares during the period. Finally, Crowley Wealth Management Inc. bought a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth approximately $51,000.

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.