ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Down 18.4% in February

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 17,197 shares, a drop of 18.4% from the January 29th total of 21,087 shares. Based on an average daily volume of 9,589 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.6% of the shares of the company are sold short. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 9,589 shares, the days-to-cover ratio is currently 1.8 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

NASDAQ:BIB opened at $87.32 on Tuesday. The company has a market cap of $91.69 million, a P/E ratio of 20.68 and a beta of 1.38. The firm’s fifty day moving average price is $84.09 and its two-hundred day moving average price is $73.32. ProShares Ultra Nasdaq Biotechnology has a one year low of $33.78 and a one year high of $90.90.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were paid a $0.1346 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.54 dividend on an annualized basis and a yield of 0.6%.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of institutional investors have recently made changes to their positions in BIB. Franklin Resources Inc. bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the second quarter worth approximately $32,000. Laurel Wealth Advisors LLC lifted its holdings in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock worth $630,000 after purchasing an additional 13,443 shares during the last quarter. Palumbo Wealth Management LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $766,000. Citadel Advisors LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology in the 3rd quarter valued at $307,000. Finally, Kaizen Financial Strategies acquired a new position in ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at $424,000.

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.