ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Update

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 8,812 shares, a decrease of 43.0% from the August 15th total of 15,453 shares. Based on an average daily trading volume, of 16,290 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.1% of the company’s shares are sold short.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares Ultra Nasdaq Biotechnology stock. Kaizen Financial Strategies lifted its stake in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,565 shares of the exchange traded fund’s stock after acquiring an additional 250 shares during the quarter. Kaizen Financial Strategies owned 0.60% of ProShares Ultra Nasdaq Biotechnology worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

ProShares Ultra Nasdaq Biotechnology Stock Performance

Shares of ProShares Ultra Nasdaq Biotechnology stock traded up $1.14 on Wednesday, reaching $109.57. The company had a trading volume of 1,704 shares, compared to its average volume of 11,229. The firm’s 50 day moving average price is $108.72 and its two-hundred day moving average price is $93.00. The firm has a market cap of $8.77 million, a PE ratio of 20.68 and a beta of 1.22. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $55.34 and a 52-week high of $126.40.

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.