ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Pass Below 50-Day Moving Average – Here’s Why

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $64.06 and traded as low as $60.95. ProShares Ultra Nasdaq Biotechnology shares last traded at $63.13, with a volume of 4,575 shares.

ProShares Ultra Nasdaq Biotechnology Price Performance

The company has a fifty day simple moving average of $64.06 and a two-hundred day simple moving average of $61.18.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were given a dividend of $0.1528 per share. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04. The ex-dividend date of this dividend was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares Ultra Nasdaq Biotechnology stock. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the exchange traded fund’s stock, valued at approximately $288,000. Texas Capital Bank Wealth Management Services Inc owned about 0.31% of ProShares Ultra Nasdaq Biotechnology as of its most recent filing with the Securities and Exchange Commission (SEC).

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.