ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,600 shares, a drop of 54.8% from the October 15th total of 16,800 shares. Based on an average daily trading volume, of 11,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares Ultra Nasdaq Biotechnology stock. Texas Capital Bank Wealth Management Services Inc purchased a new stake in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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.

ProShares Ultra Nasdaq Biotechnology Stock Performance

BIB traded up $0.16 on Wednesday, hitting $62.92. 7,485 shares of the company were exchanged, compared to its average volume of 23,601. ProShares Ultra Nasdaq Biotechnology has a 12 month low of $42.42 and a 12 month high of $69.56. The stock’s fifty day moving average is $63.82 and its 200-day moving average is $61.84.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

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.