Short Interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Declines By 5.4%

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 8,700 shares, a drop of 5.4% from the August 15th total of 9,200 shares. Based on an average trading volume of 13,900 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clarity Capital Partners LLC bought a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth about $201,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth about $288,000. Westwood Wealth Management bought a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth about $575,000. Toth Financial Advisory Corp lifted its holdings in ProShares Ultra Nasdaq Biotechnology by 132.3% during the 1st quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock valued at $1,502,000 after purchasing an additional 14,870 shares during the last quarter. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at about $2,435,000.

ProShares Ultra Nasdaq Biotechnology Stock Down 0.4 %

NASDAQ:BIB opened at $67.26 on Wednesday. The company has a 50-day moving average of $65.16 and a 200-day moving average of $59.24. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $40.10 and a 52 week high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were issued a dividend of $0.2648 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, June 26th.

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.