ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 6,100 shares, a drop of 41.9% from the September 15th total of 10,500 shares. Based on an average daily trading volume, of 9,000 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 9,000 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Several hedge funds have recently added to or reduced their stakes in BIB. Franklin Resources Inc. acquired a new stake in ProShares Ultra Nasdaq Biotechnology during the 2nd quarter valued at $32,000. PNC Financial Services Group Inc. acquired a new stake in ProShares Ultra Nasdaq Biotechnology during the 1st quarter valued at $48,000. Finally, Laurel Wealth Advisors LLC lifted its holdings in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after purchasing an additional 13,443 shares during the last quarter.

ProShares Ultra Nasdaq Biotechnology Trading Up 2.7%

NASDAQ:BIB opened at $68.81 on Tuesday. The firm has a fifty day simple moving average of $59.06 and a 200 day simple moving average of $50.47. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $69.23. The stock has a market capitalization of $67.43 million, a PE ratio of 20.68 and a beta of 1.63.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were issued a dividend of $0.1805 per share. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.72 annualized dividend and a yield of 1.0%. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.17.

About ProShares Ultra Nasdaq Biotechnology

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.