Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report ) rose above its 50-day moving average during trading on Friday. The stock’s 50-day moving average is $59.28, and it traded as high as $65.21. ProShares Ultra Nasdaq Biotechnology shares last traded at $65.21, with trading volume of 17,865 shares.
ProShares Ultra Nasdaq Biotechnology fell 0.1%.
The stock’s 50 day simple moving average is $59.28 and its 200 day simple moving average is $57.27.
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, or a yield of 1.62%. The ex-dividend date for this dividend was Wednesday, June 26th. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04.
Institutional Investors Invest in ProShares Ultra Nasdaq Biotechnology
A number of hedge funds have recently added to or reduced their investments in the company. IMC Chicago LLC acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the fourth quarter, valued at approximately $2.435 million. Toth Financial Advisory Corp increased its stake in ProShares Ultra Nasdaq Biotechnology by 132.3% in the first quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock, valued at $1.502 million, after acquiring an additional 14,870 shares during the period. Westwood Wealth Management acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the first quarter, valued at approximately $575,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the first quarter, valued at approximately $288,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth about $228,000.
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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