ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Significant Growth in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 37,100 shares, an increase of 201.6% from the March 31st total of 12,300 shares. Based on an average trading volume of 39,300 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Toth Financial Advisory Corp increased its holdings in ProShares Ultra Nasdaq Biotechnology by 132.3% in the first quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock worth $1,502,000 after purchasing an additional 14,870 shares in the last quarter. Clarity Capital Partners LLC acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at $201,000. IMC Chicago LLC bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth $2,435,000. Simplex Trading LLC grew its holdings in ProShares Ultra Nasdaq Biotechnology by 5,408.9% in the fourth quarter. Simplex Trading LLC now owns 2,479 shares of the exchange traded fund’s stock worth $141,000 after purchasing an additional 2,434 shares during the period. Finally, Palumbo Wealth Management LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at $228,000.

ProShares Ultra Nasdaq Biotechnology Trading Down 2.4 %

Shares of NASDAQ:BIB traded down $1.18 during trading on Thursday, reaching $48.94. The stock had a trading volume of 28,235 shares, compared to its average volume of 38,875. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $40.10 and a 52 week high of $62.45. The firm’s fifty day moving average is $55.69 and its 200 day moving average is $52.59.

ProShares Ultra Nasdaq Biotechnology Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Thursday, March 21st were given a $0.0403 dividend. The ex-dividend date of this dividend was Wednesday, March 20th.

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.