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 changing hands.

ProShares Ultra Nasdaq Biotechnology Trading Down 2.7 %

The firm’s 50-day moving average price is $64.27 and its two-hundred day moving average price is $58.97.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Hedge Funds Weigh In On ProShares Ultra Nasdaq Biotechnology

A number of institutional investors have recently modified their holdings of BIB. IMC Chicago LLC purchased a new stake in ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at approximately $2,435,000. Toth Financial Advisory Corp grew its position in ProShares Ultra Nasdaq Biotechnology by 132.3% in the 1st quarter. Toth Financial Advisory Corp now owns 26,111 shares of the exchange traded fund’s stock valued at $1,502,000 after buying an additional 14,870 shares during the last quarter. Westwood Wealth Management acquired a new position in ProShares Ultra Nasdaq Biotechnology in the 1st quarter valued at $575,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in ProShares Ultra Nasdaq Biotechnology during the 1st quarter worth $288,000. Finally, Clarity Capital Partners LLC acquired a new stake in shares of ProShares Ultra Nasdaq Biotechnology in the 4th quarter worth $201,000.

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.