Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB – Free Report) are set to split on Thursday, November 19th. The 2-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, November 18th.
ProShares Ultra Nasdaq Biotechnology Trading Up 5.3%
BIB stock traded up $6.33 during midday trading on Wednesday, hitting $125.11. The stock had a trading volume of 8,332 shares, compared to its average volume of 10,652. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $67.50 and a 52 week high of $126.40. The firm has a market capitalization of $107.59 million, a price-to-earnings ratio of 20.68 and a beta of 1.20. The stock has a 50-day simple moving average of $113.74 and a 200 day simple moving average of $95.24.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BIB. Capital Investment Advisors LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth about $658,000. Toth Financial Advisory Corp acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at about $118,000. Finally, 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.
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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