ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Up 100.0% in October

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 16,800 shares, an increase of 100.0% from the September 30th total of 8,400 shares. Based on an average daily trading volume, of 12,300 shares, the short-interest ratio is presently 1.4 days.

ProShares Ultra Nasdaq Biotechnology Stock Up 0.2 %

NASDAQ:BIB traded up $0.12 during trading hours on Friday, reaching $61.85. 4,349 shares of the company’s stock were exchanged, compared to its average volume of 24,261. ProShares Ultra Nasdaq Biotechnology has a 1-year low of $40.10 and a 1-year high of $69.56. The company has a 50-day moving average of $64.66 and a 200 day moving average of $60.63.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were given a dividend of $0.1528 per share. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04. The ex-dividend date was Wednesday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth approximately $288,000. Westwood Wealth Management acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the first quarter valued at about $575,000. Finally, Toth Financial Advisory Corp boosted its holdings in ProShares Ultra Nasdaq Biotechnology by 132.3% during the first quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock worth $1,502,000 after buying an additional 14,870 shares in the last quarter.

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.