ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Short Interest Down 15.4% in January

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,400 shares, a decline of 15.4% from the January 15th total of 5,200 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC raised its holdings in ProShares Ultra Nasdaq Biotechnology by 31.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the exchange traded fund’s stock valued at $270,000 after buying an additional 1,266 shares during the period. Finally, Jane Street Group LLC raised its holdings in ProShares Ultra Nasdaq Biotechnology by 8.4% during the 3rd 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 Trading Down 0.3 %

Shares of NASDAQ:BIB traded down $0.18 during mid-day trading on Friday, reaching $55.17. 9,601 shares of the company traded hands, compared to its average volume of 10,563. The company’s 50 day moving average price is $53.40 and its 200-day moving average price is $59.59. ProShares Ultra Nasdaq Biotechnology has a 52 week low of $47.19 and a 52 week high of $69.56.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders 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.

About ProShares Ultra Nasdaq Biotechnology

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.