ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 15,453 shares, an increase of 282.0% from the July 30th total of 4,045 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily volume of 9,306 shares, the short-interest ratio is currently 1.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 2nd quarter worth about $32,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth about $307,000. Finally, Kaizen Financial Strategies lifted its stake in 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 worth $483,000 after purchasing an additional 250 shares during the last quarter.

ProShares Ultra Nasdaq Biotechnology Trading Down 1.0%

Shares of BIB stock opened at $123.98 on Thursday. The company has a market cap of $100.42 million, a P/E ratio of 20.68 and a beta of 1.20. The firm has a fifty day moving average price of $103.49 and a 200 day moving average price of $90.04. ProShares Ultra Nasdaq Biotechnology has a 12 month low of $54.85 and a 12 month high of $126.40.

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.