ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 101.7% in July

Key Points

• The short interest in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) rose by 101.7% in July, reaching a total of 11,700 shares as of July 15th.
• ProShares Ultra Nasdaq Biotechnology recently declared a quarterly dividend of $0.1706 per share, an increase from its previous dividend of $0.13, providing a dividend yield of 1.3%.
• Large investors like PNC Financial Services have recently increased their positions in ProShares Ultra Nasdaq Biotechnology, indicating growing confidence in the ETF's performance.

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - ) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 11,700 shares, agrowthof101.7% from the June 30th total of 5,800 shares. Based on an average daily volume of 8,900 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 8,900 shares, the short-interest ratio is currently 1.3 days.

ProShares Ultra Nasdaq Biotechnology Stock Up 4.0%

Shares of BIB opened at $53.06 on Tuesday. ProShares Ultra Nasdaq Biotechnology has a 12-month low of $33.78 and a 12-month high of $69.17. The firm has a market capitalization of $53.59 million, a PE ratio of 20.68 and a beta of 1.63. The stock's fifty day simple moving average is $47.92 and its 200-day simple moving average is $48.60.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were paid a dividend of $0.1706 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. This is a boost from ProShares Ultra Nasdaq Biotechnology's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, June 25th.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth $48,000. Tower Research Capital LLC TRC boosted its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund's stock worth $270,000 after purchasing an additional 1,266 shares during the last quarter. Finally, IMC Chicago LLC bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth $1,080,000.

ProShares Ultra Nasdaq Biotechnology Company Profile

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.

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