ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Pass Above 50 Day Moving Average – Here’s What Happened

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $53.40 and traded as high as $56.15. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares traded.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The stock has a 50 day simple moving average of $53.40 and a two-hundred day simple moving average of $59.59.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in ProShares Ultra Nasdaq Biotechnology by 8.4% in the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after purchasing an additional 374 shares during the period. Tower Research Capital LLC TRC raised its position in ProShares Ultra Nasdaq Biotechnology by 31.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after purchasing an additional 1,266 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at $51,000.

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.