ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Pass Below 200 Day Moving Average – Here’s Why

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $59.59 and traded as low as $55.06. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The company has a fifty day simple moving average of $53.40 and a two-hundred day simple moving average of $59.54.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of institutional investors have recently modified their holdings of BIB. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 1,266 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $51,000. 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 valued at $306,000 after buying an additional 374 shares during the period.

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.