ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Cross Above 50-Day Moving Average of $60.85

Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $60.85 and traded as high as $66.85. ProShares Ultra Nasdaq Biotechnology shares last traded at $65.92, with a volume of 24,320 shares traded.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The business’s 50 day moving average price is $61.17 and its 200 day moving average price is $57.76.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were paid a dividend of $0.2648 per share. The ex-dividend date was Wednesday, June 26th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of BIB. Texas Capital Bank Wealth Management Services Inc acquired a new position in ProShares Ultra Nasdaq Biotechnology during the first quarter worth about $288,000. Westwood Wealth Management acquired a new position in ProShares Ultra Nasdaq Biotechnology during the first quarter worth about $575,000. Toth Financial Advisory Corp boosted its position in ProShares Ultra Nasdaq Biotechnology by 132.3% during the first quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock worth $1,502,000 after acquiring an additional 14,870 shares during the last quarter. Clarity Capital Partners LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth about $201,000. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth about $2,435,000.

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.