ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Cross Below Fifty Day Moving Average – Should You Sell?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $54.08 and traded as low as $52.40. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.13, with a volume of 14,819 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The firm has a 50-day moving average price of $54.09 and a 200-day moving average price of $60.71.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.3964 dividend. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC increased its holdings in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) by 8.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,803 shares of the exchange traded fund’s stock after purchasing an additional 374 shares during the period. Jane Street Group LLC owned approximately 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 at the end of the most recent reporting period.

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.