ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 55.3% in July

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 4,045 shares, an increase of 55.3% from the July 15th total of 2,604 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 6,823 shares, the short-interest ratio is currently 0.6 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of BIB stock opened at $109.88 on Tuesday. The stock has a market capitalization of $89.00 million, a PE ratio of 20.68 and a beta of 1.20. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $54.56 and a 1-year high of $110.25. The business has a 50-day moving average of $98.02 and a 200 day moving average of $88.21.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kaizen Financial Strategies boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 4.7% during the first quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock valued at $483,000 after purchasing an additional 250 shares during the period. Citadel Advisors LLC purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter worth $307,000. Finally, Franklin Resources Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the second quarter worth $32,000.

About ProShares Ultra Nasdaq Biotechnology

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.