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

Key Points

• ProShares Ultra Nasdaq Biotechnology's short interest decreased significantly by 41.9% in September, dropping from 10,500 shares to 6,100 shares, with a current short-interest ratio of 0.7 days.
• The company declared a quarterly dividend of $0.1805, up from the previous dividend of $0.17, representing an annualized dividend of $0.72 and a 1.0% dividend yield.
• ProShares Ultra Nasdaq Biotechnology's stock has a one-year high of $69.23 and a market cap of $67.43 million, showing a recent trading increase of 2.7%.

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - ) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 6,100 shares, a decrease of 41.9% from the September 15th total of 10,500 shares. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter valued at approximately $32,000. PNC Financial Services Group Inc. acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 1st quarter valued at approximately $48,000. Finally, Laurel Wealth Advisors LLC raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 4,481.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund's stock valued at $630,000 after acquiring an additional 13,443 shares during the period.

ProShares Ultra Nasdaq Biotechnology Trading Up 2.7%

ProShares Ultra Nasdaq Biotechnology stock opened at $68.81 on Tuesday. ProShares Ultra Nasdaq Biotechnology has a 1 year low of $33.78 and a 1 year high of $69.23. The company has a market cap of $67.43 million, a PE ratio of 20.68 and a beta of 1.63. The company's 50-day moving average is $59.06 and its two-hundred day moving average is $50.47.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were given a $0.1805 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from ProShares Ultra Nasdaq Biotechnology's previous quarterly dividend of $0.17.

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.

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