ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Share Price Cross Above 50-Day Moving Average – Should You Sell?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $53.67 and traded as high as $55.56. ProShares Ultra Nasdaq Biotechnology shares last traded at $54.60, with a volume of 7,479 shares traded.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The company has a 50 day simple moving average of $53.67 and a two-hundred day simple moving average of $58.84.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Crowley Wealth Management Inc. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth $51,000. Jane Street Group LLC boosted its holdings in 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 purchasing an additional 374 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position 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 worth $270,000 after purchasing an additional 1,266 shares during the period.

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.