ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $82.50 and traded as high as $86.49. ProShares Ultra Nasdaq Biotechnology shares last traded at $86.37, with a volume of 7,054 shares changing hands.
ProShares Ultra Nasdaq Biotechnology Stock Performance
The company has a market capitalization of $80.32 million, a price-to-earnings ratio of 20.68 and a beta of 1.25. The company has a fifty day simple moving average of $82.50 and a two-hundred day simple moving average of $80.57.
Institutional Trading of ProShares Ultra Nasdaq Biotechnology
Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 2nd quarter valued at about $32,000. Citadel Advisors LLC purchased a new position in ProShares Ultra Nasdaq Biotechnology during the third quarter worth approximately $307,000. Kaizen Financial Strategies acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at $424,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 3rd quarter valued at $766,000.
ProShares Ultra Nasdaq Biotechnology Company Profile
(
Get Free Report)
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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