ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Pass Above 50 Day Moving Average – What’s Next?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $44.20 and traded as high as $46.23. ProShares Ultra Nasdaq Biotechnology shares last traded at $45.42, with a volume of 9,760 shares changing hands.

ProShares Ultra Nasdaq Biotechnology Price Performance

The company has a market capitalization of $49.96 million, a PE ratio of 20.68 and a beta of 1.63. The firm has a 50-day moving average of $44.20 and a 200 day moving average of $49.47.

ProShares Ultra Nasdaq Biotechnology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a $0.1309 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BIB. PNC Financial Services Group Inc. bought a new position in shares of ProShares Ultra Nasdaq Biotechnology in the first quarter worth about $48,000. IMC Chicago LLC bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 1st quarter valued at approximately $1,080,000. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 1,266 shares during the period. Finally, Crowley Wealth Management Inc. bought a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at approximately $51,000.

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.