ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Large Decline in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,400 shares, a decline of 15.4% from the January 15th total of 5,200 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in ProShares Ultra Nasdaq Biotechnology by 8.4% in the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock worth $306,000 after purchasing an additional 374 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock worth $270,000 after purchasing an additional 1,266 shares in the last quarter.

ProShares Ultra Nasdaq Biotechnology Stock Down 0.3 %

BIB stock traded down $0.18 during midday trading on Monday, reaching $55.17. The company had a trading volume of 9,601 shares, compared to its average volume of 10,563. The company has a 50 day moving average of $53.40 and a two-hundred day moving average of $59.49. ProShares Ultra Nasdaq Biotechnology has a 1 year low of $47.19 and a 1 year high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.3964 per share. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, December 23rd.

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.