ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Cross Below Fifty Day Moving Average – Here’s What Happened

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $64.06 and traded as low as $60.95. ProShares Ultra Nasdaq Biotechnology shares last traded at $63.13, with a volume of 4,575 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The stock has a 50 day moving average price of $64.06 and a two-hundred day moving average price of $61.18.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.1528 per share. The ex-dividend date was Wednesday, September 25th. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares Ultra Nasdaq Biotechnology stock. Texas Capital Bank Wealth Management Services Inc acquired a new position in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,000 shares of the exchange traded fund’s stock, valued at approximately $288,000. Texas Capital Bank Wealth Management Services Inc owned about 0.31% of ProShares Ultra Nasdaq Biotechnology at the end of the most recent 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.