ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Pass Above 50-Day Moving Average – Here’s Why

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)’s stock price 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.

ProShares Ultra Nasdaq Biotechnology Price Performance

The firm’s fifty day moving average is $53.73 and its 200-day moving average is $58.70.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.3964 dividend. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted 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 valued at $306,000 after acquiring an additional 374 shares during the period. Crowley Wealth Management Inc. purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the fourth quarter worth about $51,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of ProShares Ultra Nasdaq Biotechnology by 31.2% during the fourth 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 in the last quarter.

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.