ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Significant Growth in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant increase in short interest in 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 volume of 39,300 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Several hedge funds have recently added to or reduced their stakes in BIB. Simplex Trading LLC lifted its position in shares of ProShares Ultra Nasdaq Biotechnology by 5,408.9% during the fourth quarter. Simplex Trading LLC now owns 2,479 shares of the exchange traded fund’s stock worth $141,000 after purchasing an additional 2,434 shares during the last quarter. Clarity Capital Partners LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at about $201,000. Palumbo Wealth Management LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $228,000. Tower Research Capital LLC TRC grew its stake in ProShares Ultra Nasdaq Biotechnology by 523.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,457 shares of the exchange traded fund’s stock worth $310,000 after acquiring an additional 5,422 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in ProShares Ultra Nasdaq Biotechnology by 17.3% in the 4th quarter. Toth Financial Advisory Corp now owns 11,241 shares of the exchange traded fund’s stock worth $641,000 after acquiring an additional 1,655 shares in the last quarter.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of ProShares Ultra Nasdaq Biotechnology stock traded down $1.18 during trading hours on Thursday, reaching $48.94. The company’s stock had a trading volume of 28,235 shares, compared to its average volume of 38,875. The firm has a 50 day moving average price of $55.69 and a 200-day moving average price of $52.59. ProShares Ultra Nasdaq Biotechnology has a one year low of $40.10 and a one year high of $62.45.

ProShares Ultra Nasdaq Biotechnology Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, March 27th. Investors of record on Thursday, March 21st were paid a dividend of $0.0403 per share. The ex-dividend date 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.