Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Increases By 201.6%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 37,100 shares, an increase of 201.6% from the March 31st total of 12,300 shares. Based on an average daily trading volume, of 39,300 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of ProShares Ultra Nasdaq Biotechnology by 523.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,457 shares of the exchange traded fund’s stock worth $310,000 after purchasing an additional 5,422 shares during the period. Palumbo Wealth Management LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $228,000. Toth Financial Advisory Corp raised its position in ProShares Ultra Nasdaq Biotechnology by 17.3% during the fourth quarter. Toth Financial Advisory Corp now owns 11,241 shares of the exchange traded fund’s stock valued at $641,000 after acquiring an additional 1,655 shares in the last quarter. Clarity Capital Partners LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $201,000. Finally, IMC Chicago LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $2,435,000.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of BIB traded up $0.86 during midday trading on Friday, hitting $49.80. The stock had a trading volume of 7,393 shares, compared to its average volume of 38,478. ProShares Ultra Nasdaq Biotechnology has a fifty-two week low of $40.10 and a fifty-two week high of $62.45. The business has a 50-day simple moving average of $55.69 and a two-hundred day simple moving average of $52.59.

ProShares Ultra Nasdaq Biotechnology Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Thursday, March 21st were issued a $0.0403 dividend. The ex-dividend date of this dividend was Wednesday, March 20th.

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.