ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Down 53.7% in May

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 5,600 shares, a drop of 53.7% from the May 15th total of 12,100 shares. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in ProShares Ultra Nasdaq Biotechnology by 523.9% in the third quarter. Tower Research Capital LLC TRC now owns 6,457 shares of the exchange traded fund’s stock valued at $310,000 after buying an additional 5,422 shares in the last quarter. Toth Financial Advisory Corp grew its position in shares of ProShares Ultra Nasdaq Biotechnology by 17.3% in the fourth quarter. Toth Financial Advisory Corp now owns 11,241 shares of the exchange traded fund’s stock valued at $641,000 after purchasing an additional 1,655 shares during the period. Palumbo Wealth Management LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $228,000. Clarity Capital Partners LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $201,000. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $2,435,000.

ProShares Ultra Nasdaq Biotechnology Trading Down 1.5 %

Shares of ProShares Ultra Nasdaq Biotechnology stock traded down $0.89 during trading on Friday, hitting $58.65. 83,994 shares of the company’s stock were exchanged, compared to its average volume of 33,238. The business has a 50-day simple moving average of $54.73 and a 200-day simple moving average of $55.58. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $40.10 and a 52-week high of $62.45.

ProShares Ultra Nasdaq Biotechnology Dividend Announcement

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

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.