ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Get Free Report)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $113.84 and traded as high as $116.43. ProShares Ultra Nasdaq Biotechnology shares last traded at $112.85, with a volume of 8,019 shares changing hands.
ProShares Ultra Nasdaq Biotechnology Trading Down 1.6%
The firm has a fifty day moving average of $113.84 and a 200 day moving average of $98.78. The company has a market capitalization of $94.79 million, a P/E ratio of 20.68 and a beta of 1.20.
Institutional Trading of ProShares Ultra Nasdaq Biotechnology
A number of institutional investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter worth approximately $118,000. Kaizen Financial Strategies raised its holdings 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 last quarter. Finally, Capital Investment Advisors LLC purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology during the third quarter valued at approximately $658,000.
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.
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