ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 2,604 shares, a drop of 79.4% from the June 30th total of 12,632 shares. Based on an average daily volume of 14,991 shares, the short-interest ratio is currently 0.2 days. Approximately 0.3% of the company’s shares are short sold.
Institutional Trading of ProShares Ultra Nasdaq Biotechnology
Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in ProShares Ultra Nasdaq Biotechnology during the second quarter valued at $32,000. Citadel Advisors LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter worth about $307,000. Finally, Kaizen Financial Strategies acquired a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth about $424,000.
ProShares Ultra Nasdaq Biotechnology Price Performance
NASDAQ BIB traded up $0.49 on Monday, hitting $98.37. 7,931 shares of the stock were exchanged, compared to its average volume of 11,237. The company’s 50-day moving average price is $90.90 and its two-hundred day moving average price is $85.98. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $49.24 and a 52-week high of $110.25. The company has a market capitalization of $82.63 million, a price-to-earnings ratio of 20.68 and a beta of 1.19.
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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