Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Decreases By 26.8%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 4,100 shares, a drop of 26.8% from the May 31st total of 5,600 shares. Based on an average trading volume of 28,100 shares, the days-to-cover ratio is presently 0.1 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

BIB stock traded down $0.35 during midday trading on Friday, hitting $59.26. 12,239 shares of the company’s stock were exchanged, compared to its average volume of 31,883. The business has a 50-day simple moving average of $56.31 and a two-hundred day simple moving average of $56.45. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $40.10 and a 1-year high of $62.57.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.2648 per share. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $1.06 annualized dividend and a yield of 1.79%.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIB. 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. Westwood Wealth Management acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the first quarter valued at $575,000. Toth Financial Advisory Corp grew its stake in shares of 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 $1,502,000 after buying an additional 14,870 shares in the last quarter. Clarity Capital Partners LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at $201,000. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at $2,435,000.

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.