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

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 8,900 shares, an increase of 17.1% from the October 31st total of 7,600 shares. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares Ultra Nasdaq Biotechnology stock. Jane Street Group LLC raised its holdings in shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,803 shares of the exchange traded fund’s stock after acquiring an additional 374 shares during the period. Jane Street Group LLC owned approximately 0.35% of ProShares Ultra Nasdaq Biotechnology worth $306,000 at the end of the most recent quarter.

ProShares Ultra Nasdaq Biotechnology Stock Up 0.3 %

NASDAQ:BIB traded up $0.17 during trading hours on Monday, hitting $59.70. 5,586 shares of the company were exchanged, compared to its average volume of 23,125. The company’s 50 day moving average price is $61.60 and its 200-day moving average price is $62.08. ProShares Ultra Nasdaq Biotechnology has a 52-week low of $46.07 and a 52-week high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.04.

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.