ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Cross Above 50 Day Moving Average – Here’s What Happened

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $81.02 and traded as high as $88.01. ProShares Ultra Nasdaq Biotechnology shares last traded at $85.73, with a volume of 9,892 shares traded.

ProShares Ultra Nasdaq Biotechnology Stock Down 2.8%

The firm has a market capitalization of $90.87 million, a P/E ratio of 20.68 and a beta of 1.38. The business’s 50 day moving average is $81.02 and its two-hundred day moving average is $66.73.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a $0.1346 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, December 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC raised its holdings in ProShares Ultra Nasdaq Biotechnology by 4,481.0% during the second quarter. Laurel Wealth Advisors LLC now owns 13,743 shares of the exchange traded fund’s stock worth $630,000 after purchasing an additional 13,443 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of ProShares Ultra Nasdaq Biotechnology during the 3rd quarter valued at $307,000. Franklin Resources Inc. bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth $32,000. Kaizen Financial Strategies acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at $424,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the third quarter valued at $766,000.

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. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.