ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Large Decrease in Short Interest

Posted by Oscar Bower on Nov 13th, 2024

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 7,600 shares, a decline of 54.8% from the October 15th total of 16,800 shares. Based on an average daily volume of 11,400 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares Ultra Nasdaq Biotechnology stock. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,000 shares of the exchange traded fund’s stock, valued at approximately $288,000. Texas Capital Bank Wealth Management Services Inc owned 0.31% of ProShares Ultra Nasdaq Biotechnology as of its most recent SEC filing.

ProShares Ultra Nasdaq Biotechnology Trading Up 0.3 %

BIB traded up $0.16 during mid-day trading on Wednesday, hitting $62.92. The stock had a trading volume of 7,485 shares, compared to its average volume of 23,601. The stock’s fifty day simple moving average is $63.82 and its 200-day simple moving average is $61.84. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $42.42 and a 1-year high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.1528 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04.

About ProShares Ultra Nasdaq Biotechnology

(Get Free Report)

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.