ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) Stock Pass Above Fifty Day Moving Average of $67.58

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ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $67.58 and traded as high as $71.51. ProShares Ultra Nasdaq Biotechnology shares last traded at $71.23, with a volume of 102,883 shares.

The company’s fifty day simple moving average is $67.67 and its two-hundred day simple moving average is $65.05.

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 65.5% in the 1st quarter. Morgan Stanley now owns 4,324 shares of the exchange traded fund’s stock worth $200,000 after purchasing an additional 1,712 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 28.4% in the 2nd quarter. Capital Investment Advisors LLC now owns 12,420 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 2,750 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth about $218,000. Toth Financial Advisory Corp raised its position in shares of ProShares Ultra Nasdaq Biotechnology by 34.7% in the 2nd quarter. Toth Financial Advisory Corp now owns 24,812 shares of the exchange traded fund’s stock worth $1,801,000 after purchasing an additional 6,395 shares during the last quarter. Finally, Chase Investment Counsel Corp purchased a new position in shares of ProShares Ultra Nasdaq Biotechnology in the 2nd quarter worth about $2,604,000.

About ProShares Ultra Nasdaq Biotechnology (NASDAQ:BIB)

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.

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