ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $53.40 and traded as high as $56.15. ProShares Ultra Nasdaq Biotechnology shares last traded at $55.17, with a volume of 9,601 shares trading hands.

ProShares Ultra Nasdaq Biotechnology Stock Performance

The stock has a 50-day moving average price of $53.40 and a 200 day moving average price of $59.54.

ProShares Ultra Nasdaq Biotechnology Increases Dividend

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

Institutional Investors Weigh In On ProShares Ultra Nasdaq Biotechnology

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of 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 valued at $270,000 after buying an additional 1,266 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of ProShares Ultra Nasdaq Biotechnology during the 4th quarter valued at approximately $51,000. Finally, Jane Street Group LLC raised its position in shares of 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 buying an additional 374 shares during the period.

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.