ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Cross Below 50 Day Moving Average of $64.12

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $64.12 and traded as low as $64.05. ProShares Ultra Nasdaq Biotechnology shares last traded at $64.92, with a volume of 12,423 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Stock Down 2.7 %

The firm’s fifty day moving average is $64.27 and its 200-day moving average is $58.97.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were paid a $0.2648 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, June 26th. This is a positive change from ProShares Ultra Nasdaq Biotechnology’s previous quarterly dividend of $0.04.

Institutional Trading of ProShares Ultra Nasdaq Biotechnology

Several institutional investors and hedge funds have recently bought and sold shares of BIB. Texas Capital Bank Wealth Management Services Inc bought a new stake in ProShares Ultra Nasdaq Biotechnology during the first quarter valued at $288,000. Westwood Wealth Management bought a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 1st quarter valued at about $575,000. Toth Financial Advisory Corp raised its stake in ProShares Ultra Nasdaq Biotechnology by 132.3% during the first quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock worth $1,502,000 after acquiring an additional 14,870 shares during the period. Clarity Capital Partners LLC bought a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth about $201,000. Finally, IMC Chicago LLC acquired a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $2,435,000.

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.