ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $82.23 and traded as low as $80.90. ProShares Ultra Nasdaq Biotechnology shares last traded at $81.46, with a volume of 5,071 shares changing hands.
ProShares Ultra Nasdaq Biotechnology Trading Down 3.7%
The firm has a market capitalization of $75.76 million, a price-to-earnings ratio of 20.68 and a beta of 1.25. The company has a fifty day moving average price of $82.23 and a 200-day moving average price of $82.24.
Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the second quarter worth approximately $32,000. Citadel Advisors LLC bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter worth $307,000. Kaizen Financial Strategies bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth $424,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter worth $766,000.
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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.
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