ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Down 27.9% in January

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 21,087 shares, a decline of 27.9% from the January 15th total of 29,246 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 12,905 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.0% of the shares of the company are short sold.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of NASDAQ:BIB opened at $84.94 on Friday. The stock has a market cap of $89.19 million, a P/E ratio of 20.68 and a beta of 1.38. The firm has a fifty day moving average price of $82.48 and a 200 day moving average price of $70.31. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $89.06.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $0.1346 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, December 24th.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Several institutional investors have recently added to or reduced their stakes in BIB. Laurel Wealth Advisors LLC raised its stake in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock valued at $630,000 after acquiring an additional 13,443 shares during the last quarter. Palumbo Wealth Management LLC purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter worth approximately $766,000. Kaizen Financial Strategies acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth $424,000. Citadel Advisors LLC purchased a new position in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $307,000. Finally, Franklin Resources Inc. purchased a new position in ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at $32,000.

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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.