ProShares Ultra Nasdaq Biotechnology ( NASDAQ:BIB – Get Free Report ) has seen a significant increase in short interest in July. As of July 15, short interest totaled 8,000 shares, up 220.0% from a total of 2,500 shares on June 30. Based on an average trading volume of 18,300 shares, days coverage is currently at 0.4 days.
ProShares Ultra Nasdaq Biotechnology rose 1.9%
NASDAQ:BIB shares opened trading at $67.47 on Friday. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $40.10 and a 52-week high of $69.53. The company’s 50-day simple moving average is $60.07 and its 200-day simple moving average is $57.49.
ProShares Ultra Nasdaq Biotechnology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 26th were paid a dividend of $0.2648. This equates to a dividend of $1.06 on an annualized basis, for a yield of 1.57%. The ex-dividend date was Wednesday, June 26th. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04.
Hedge Fund Enters ProShares Ultra Nasdaq Biotechnology
A number of large investors have recently modified their holdings in BIB. Simplex Trading LLC increased its holdings in ProShares Ultra Nasdaq Biotechnology by 5,408.9% in the fourth quarter. Simplex Trading LLC now owns 2,479 shares of the exchange-traded fund valued at $141,000 after acquiring an additional 2,434 shares in the last quarter. Clarity Capital Partners LLC acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $201,000. Palumbo Wealth Management LLC acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $228,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the first quarter valued at $288,000. Finally, Westwood Wealth Management acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the first quarter valued at $575,000.
About ProShares Ultra Nasdaq Biotechnology
(Get your free report)
ProShares Ultra Nasdaq Biotechnology (Fund) seeks to achieve daily investment results, before fees and expenses, equal to twice (200%) the daily performance of the Index. The Fund’s returns for periods exceeding one trading day will be the result of the compounding of daily returns over that period and will likely differ from the inverse of the return of the Dow Jones U.S. Basic Materials Index (Index) for that period.
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