ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Cross Below 50-Day Moving Average – What’s Next?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIBGet Free Report) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $54.01 and traded as low as $53.07. ProShares Ultra Nasdaq Biotechnology shares last traded at $54.71, with a volume of 3,854 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Price Performance

The business’s 50 day moving average is $54.01 and its two-hundred day moving average is $58.06.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of BIB. Jane Street Group LLC grew its position in ProShares Ultra Nasdaq Biotechnology by 8.4% during the third quarter. Jane Street Group LLC now owns 4,803 shares of the exchange traded fund’s stock valued at $306,000 after acquiring an additional 374 shares during the last quarter. Tower Research Capital LLC TRC grew its position in ProShares Ultra Nasdaq Biotechnology by 31.2% during 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 during the last quarter. Finally, Crowley Wealth Management Inc. bought a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter valued at approximately $51,000.

About ProShares Ultra Nasdaq Biotechnology

(Get Free Report)

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.

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