ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Cross Above 50 Day Moving Average – What’s Next?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $53.34 and traded as high as $57.02. ProShares Ultra Nasdaq Biotechnology shares last traded at $56.18, with a volume of 2,975 shares.

ProShares Ultra Nasdaq Biotechnology Trading Down 1.2 %

The business has a 50-day simple moving average of $53.34 and a 200-day simple moving average of $59.26.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new stake in ProShares Ultra Nasdaq Biotechnology in the 4th quarter worth about $51,000. Tower Research Capital LLC TRC lifted its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after acquiring an additional 1,266 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 8.4% in the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock worth $306,000 after acquiring an additional 374 shares during the last quarter.

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.