ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $51.09 and traded as high as $55.32. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.26, with a volume of 6,354 shares.
ProShares Ultra Nasdaq Biotechnology Price Performance
The firm has a market cap of $57.98 million, a price-to-earnings ratio of 20.68 and a beta of 1.63. The firm's fifty day moving average is $51.50 and its 200-day moving average is $48.57.
ProShares Ultra Nasdaq Biotechnology Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.1706 per share. This is an increase from ProShares Ultra Nasdaq Biotechnology's previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 25th.
Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology
Hedge funds and other institutional investors have recently made changes to their positions in the business. IMC Chicago LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth about $1,080,000. Laurel Wealth Advisors LLC lifted its stake in 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 worth $630,000 after purchasing an additional 13,443 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the 1st quarter worth approximately $48,000. Finally, Franklin Resources Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth approximately $32,000.
About ProShares Ultra Nasdaq Biotechnology
(
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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.
Further Reading
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