ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $53.40 and traded as high as $56.15. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Stock Down 0.3 %

The stock’s 50 day moving average is $53.40 and its two-hundred day moving average is $59.54.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.3964 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIB. Tower Research Capital LLC TRC boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after buying an additional 1,266 shares during the period. Jane Street Group LLC boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 8.4% in the 3rd quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after buying an additional 374 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter valued at about $51,000.

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.