ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Price Pass Below 200-Day Moving Average – What’s Next?

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $59.59 and traded as low as $55.06. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Price Performance

The stock has a 50-day moving average price of $53.40 and a 200-day moving average price of $59.59.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted 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 worth $270,000 after purchasing an additional 1,266 shares during the last quarter. Jane Street Group LLC lifted 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 worth $306,000 after purchasing an additional 374 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter worth approximately $51,000.

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.