ProShares Ultra Nasdaq Cybersecurity ETF (NASDAQ:UCYB) Stock Price Down 6.9% – Time to Sell?

ProShares Ultra Nasdaq Cybersecurity ETF (NASDAQ:UCYB)’s stock price fell 6.9% during mid-day trading on Tuesday . The company traded as low as $63.84 and last traded at $65.91. 5,077 shares were traded during trading, an increase of 27% from the average session volume of 3,998 shares. The stock had previously closed at $70.82.

ProShares Ultra Nasdaq Cybersecurity ETF Trading Down 6.9%

The stock’s 50-day moving average is $54.07 and its 200-day moving average is $51.02. The stock has a market cap of $5.93 million, a price-to-earnings ratio of 24.20 and a beta of 1.90.

ProShares Ultra Nasdaq Cybersecurity ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a $0.2722 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $1.09 annualized dividend and a dividend yield of 1.7%.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Cybersecurity ETF

A hedge fund recently bought a new stake in ProShares Ultra Nasdaq Cybersecurity ETF stock. Jane Street Group LLC purchased a new position in shares of ProShares Ultra Nasdaq Cybersecurity ETF (NASDAQ:UCYB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,842 shares of the company’s stock, valued at approximately $302,000. Jane Street Group LLC owned 6.05% of ProShares Ultra Nasdaq Cybersecurity ETF at the end of the most recent quarter.

ProShares Ultra Nasdaq Cybersecurity ETF Company Profile

The ProShares Ultra Nasdaq Cybersecurity (UCYB) is an exchange-traded fund that is based on the Nasdaq CTA Cybersecurity index. The fund provides daily 2x leveraged exposure to a liquidity-weighted index that targets companies engaged in the global cybersecurity industry. UCYB was launched on Jan 19, 2021 and is managed by ProShares.