Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Drops By 23.9%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 8,900 shares, adecreaseof23.9% from the July 15th total of 11,700 shares. Currently,0.9% of the company’s stock are short sold. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is presently 1.0 days. Currently,0.9% of the company’s stock are short sold.

ProShares Ultra Nasdaq Biotechnology Trading Up 1.1%

BIB opened at $56.75 on Friday. The stock has a fifty day simple moving average of $50.13 and a two-hundred day simple moving average of $48.58. The company has a market cap of $57.32 million, a price-to-earnings ratio of 20.68 and a beta of 1.63. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $33.78 and a 12-month high of $69.17.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 25th were issued a $0.1706 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, June 25th.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology in the second quarter worth $32,000. PNC Financial Services Group Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology in the first quarter worth $48,000. Tower Research Capital LLC TRC boosted its holdings in 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 worth $270,000 after acquiring an additional 1,266 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in ProShares Ultra Nasdaq Biotechnology by 4,481.0% in the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock worth $630,000 after acquiring an additional 13,443 shares in the last quarter. Finally, IMC Chicago LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology in the first quarter worth $1,080,000.

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.