ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $82.68 and traded as low as $78.60. ProShares Ultra Nasdaq Biotechnology shares last traded at $81.08, with a volume of 8,256 shares trading hands.
ProShares Ultra Nasdaq Biotechnology Trading Up 3.1%
The firm’s fifty day moving average price is $82.68 and its 200 day moving average price is $82.39. The stock has a market capitalization of $75.40 million, a price-to-earnings ratio of 20.68 and a beta of 1.24.
Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at $32,000. Citadel Advisors LLC purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $307,000. Kaizen Financial Strategies purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at $424,000. Finally, Palumbo Wealth Management LLC purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $766,000.
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.
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