ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $83.76 and traded as high as $99.29. ProShares Ultra Nasdaq Biotechnology shares last traded at $98.28, with a volume of 27,298 shares trading hands.
ProShares Ultra Nasdaq Biotechnology Stock Performance
The firm has a market cap of $91.40 million, a price-to-earnings ratio of 20.68 and a beta of 1.24. The business’s 50-day moving average is $83.76 and its 200-day moving average is $82.92.
Institutional Trading of ProShares Ultra Nasdaq Biotechnology
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kaizen Financial Strategies increased its position in ProShares Ultra Nasdaq Biotechnology by 4.7% in the 1st quarter. Kaizen Financial Strategies now owns 5,565 shares of the exchange traded fund’s stock valued at $483,000 after acquiring an additional 250 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at approximately $307,000. Finally, Franklin Resources Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth approximately $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.
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