ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Price Up 4.9%

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ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s share price rose 4.9% during trading on Tuesday . The stock traded as high as $49.08 and last traded at $48.27, approximately 11,549 shares were traded during trading. A decline of 93% from the average daily volume of 158,185 shares. The stock had previously closed at $46.01.

The firm has a 50-day moving average of $44.54 and a 200 day moving average of $47.91.

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $41,000. Phocas Financial Corp. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $77,000. BNP Paribas Arbitrage SA acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $84,000. Morgan Stanley raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 1,701.9% in the 2nd quarter. Morgan Stanley now owns 1,874 shares of the exchange traded fund’s stock valued at $97,000 after purchasing an additional 1,770 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $207,000.

ProShares Ultra Nasdaq Biotechnology Company Profile (NASDAQ:BIB)

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.

Further Reading: Capital Gains Distribution

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