Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Increases By 282.0%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 15,453 shares, an increase of 282.0% from the July 30th total of 4,045 shares. Based on an average daily trading volume, of 9,306 shares, the short-interest ratio is currently 1.7 days. Approximately 1.9% of the company’s stock are sold short.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 2nd quarter worth $32,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at about $307,000. Finally, Kaizen Financial Strategies lifted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 4.7% in the first quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock valued at $483,000 after purchasing an additional 250 shares during the period.

ProShares Ultra Nasdaq Biotechnology Trading Down 5.5%

Shares of NASDAQ BIB opened at $116.39 on Friday. The stock has a market cap of $94.28 million, a P/E ratio of 20.68 and a beta of 1.20. ProShares Ultra Nasdaq Biotechnology has a twelve month low of $54.85 and a twelve month high of $126.40. The stock has a 50 day moving average of $104.88 and a two-hundred day moving average of $90.48.

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.