ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Pass Above Fifty Day Moving Average - Should You Sell?

Key Points

• ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) has crossed above its 50-day moving average of $47.57, trading at $50.48 with a peak at $52.31 during recent trading.
• The company has increased its quarterly dividend to $0.1706 per share, reflecting a positive change from the previous dividend of $0.13 and a 1.4% yield.
• Several institutional investors have recently increased their positions in ProShares Ultra Nasdaq Biotechnology, indicating growing interest in the fund.

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $47.57 and traded as high as $52.31. ProShares Ultra Nasdaq Biotechnology shares last traded at $50.48, with a volume of 9,808 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Trading Down 2.8%

The stock has a market cap of $52.12 million, a PE ratio of 20.68 and a beta of 1.63. The company has a fifty day moving average of $47.92 and a 200-day moving average of $48.60.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BIB. PNC Financial Services Group Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth about $48,000. Tower Research Capital LLC TRC boosted its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund's stock worth $270,000 after acquiring an additional 1,266 shares in the last quarter. Finally, IMC Chicago LLC acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth about $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.