Shares of ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $65.91 and traded as low as $62.86. ProShares Ultra Nasdaq Biotechnology shares last traded at $62.90, with a volume of 502,363 shares traded.
The company’s 50 day simple moving average is $65.99 and its two-hundred day simple moving average is $59.23.
Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the fourth quarter valued at approximately $31,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of ProShares Ultra Nasdaq Biotechnology by 500.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 600 shares of the exchange traded fund’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Pacitti Group Inc. purchased a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth approximately $41,000. Boston Private Wealth LLC purchased a new position in ProShares Ultra Nasdaq Biotechnology in the fourth quarter worth approximately $93,000. Finally, Morgan Stanley lifted its stake in ProShares Ultra Nasdaq Biotechnology by 65.5% in the first quarter. Morgan Stanley now owns 4,324 shares of the exchange traded fund’s stock worth $200,000 after acquiring an additional 1,712 shares during the last quarter.
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.
Read More: What does a market perform rating mean?
Receive News & Ratings for ProShares Ultra Nasdaq Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares Ultra Nasdaq Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.