ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 143.4% in June

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 12,632 shares, a growth of 143.4% from the June 15th total of 5,190 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 18,635 shares, the short-interest ratio is currently 0.7 days.

ProShares Ultra Nasdaq Biotechnology Price Performance

Shares of NASDAQ:BIB traded up $1.08 during trading hours on Wednesday, hitting $99.88. The company’s stock had a trading volume of 2,858 shares, compared to its average volume of 11,454. The firm’s fifty day moving average price is $88.51 and its 200 day moving average price is $84.95. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $48.83 and a 52 week high of $110.25. The company has a market capitalization of $83.90 million, a price-to-earnings ratio of 20.68 and a beta of 1.19.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Hedge funds have recently bought and sold shares of the stock. Kaizen Financial Strategies raised its position in 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 acquiring an additional 250 shares in the last quarter. Franklin Resources Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth approximately $32,000. Finally, Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 3rd quarter worth approximately $307,000.

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.