ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 12,632 shares, a growth of 143.4% from the June 15th total of 5,190 shares. Based on an average daily volume of 18,635 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.5% of the shares of the stock are sold short.
Institutional Trading of ProShares Ultra Nasdaq Biotechnology
Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology during the 2nd quarter valued at approximately $32,000. Citadel Advisors LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter valued at about $307,000. Finally, Kaizen Financial Strategies bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $424,000.
ProShares Ultra Nasdaq Biotechnology Trading Down 0.2%
Shares of BIB traded down $0.24 during midday trading on Thursday, reaching $100.00. The stock had a trading volume of 874 shares, compared to its average volume of 11,409. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $48.83 and a 12-month high of $110.25. The company’s 50-day moving average is $88.79 and its 200 day moving average is $85.07. The company has a market capitalization of $84.00 million, a price-to-earnings ratio of 20.68 and a beta of 1.19.
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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.
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