ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 4,045 shares, a growth of 55.3% from the July 15th total of 2,604 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 6,823 shares, the short-interest ratio is currently 0.6 days.
ProShares Ultra Nasdaq Biotechnology Stock Performance
NASDAQ BIB opened at $112.03 on Wednesday. The firm has a 50-day simple moving average of $98.64 and a 200 day simple moving average of $88.41. ProShares Ultra Nasdaq Biotechnology has a twelve month low of $54.56 and a twelve month high of $112.29. The stock has a market cap of $90.74 million, a PE ratio of 20.68 and a beta of 1.20.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the second quarter worth about $32,000. Citadel Advisors LLC bought a new position in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter worth approximately $307,000. Finally, Kaizen Financial Strategies raised its position 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 worth $483,000 after acquiring an additional 250 shares during the last quarter.
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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