ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Sees Large Drop in Short Interest

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 3,900 shares, a drop of 7.1% from the November 30th total of 4,200 shares. Based on an average daily volume of 12,300 shares, the days-to-cover ratio is presently 0.3 days.

ProShares Ultra Nasdaq Biotechnology Stock Performance

BIB stock traded up $0.35 during midday trading on Tuesday, reaching $50.58. 5,715 shares of the company’s stock traded hands, compared to its average volume of 22,065. The firm’s fifty day moving average price is $58.14 and its 200-day moving average price is $61.69. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $47.19 and a 52 week high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.3964 per share. The ex-dividend date is Monday, December 23rd. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC grew its position in ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,803 shares of the exchange traded fund’s stock after purchasing an additional 374 shares during the period. Jane Street Group LLC owned about 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 at the end of the most recent reporting period.

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.