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

Key Points

• Short interest in ProShares Ultra Nasdaq Biotechnology increased by 37.1% in August, totaling 12,200 shares, compared to 8,900 shares at the end of July.
• The company recently raised its quarterly dividend to $0.1706, representing an annualized dividend of $0.68 and a yield of 1.2%.
• ProShares Ultra Nasdaq Biotechnology's stock price rose 3.7%, with shares opening at $59.25, as it continues to trade significantly above its 12-month low of $33.78.

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) saw a significant growth in short interest in August. As of August 15th, there was short interest totaling 12,200 shares, a growth of 37.1% from the July 31st total of 8,900 shares. Based on an average trading volume of 7,800 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 7,800 shares, the days-to-cover ratio is currently 1.6 days.

ProShares Ultra Nasdaq Biotechnology Trading Down 3.5%

NASDAQ:BIB traded down $2.07 during trading hours on Friday, hitting $57.20. The stock had a trading volume of 6,244 shares, compared to its average volume of 9,146. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $33.78 and a 1-year high of $69.17. The business has a 50 day simple moving average of $53.30 and a two-hundred day simple moving average of $48.73. The company has a market cap of $57.77 million, a PE ratio of 20.68 and a beta of 1.63.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were given a dividend of $0.1706 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This is an increase from ProShares Ultra Nasdaq Biotechnology's previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of hedge funds have recently made changes to their positions in BIB. IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the first quarter worth approximately $1,080,000. Laurel Wealth Advisors LLC grew its position in shares of ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund's stock worth $630,000 after buying an additional 13,443 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the first quarter worth approximately $48,000. Finally, Franklin Resources Inc. acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the second quarter worth approximately $32,000.

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.