BIB Stock Summary and Trading Ideas (ProShares Ultra Nasdaq Biotechnology | NASDAQ:BIB)

ProShares Ultra Nasdaq Biotechnology seeks daily investment results before fees and expenses that correspond to twice (200%) the daily performance of the NASDAQ Biotechnology Index.

ProShares Ultra Nasdaq Biotechnology trades on the NASDAQ stock market under the symbol BIB.

As of April 15, 2024, BIB stock price declined to $50.24 with 7,765 million shares trading.

BIB has a beta of 1.78, meaning it tends to be more sensitive to market movements. BIB has a correlation of 0.40 to the broad based SPY ETF.

BIB has a market cap of $80.38 million. This is considered a Micro Cap stock.

In the last 3 years, BIB stock traded as high as $112.00 and as low as $38.42.

BIB has underperformed the market in the last year with a price return of -8.9% while the SPY ETF gained +25.3%. BIB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -15.6% and -12.7%, respectively, while the SPY returned +6.2% and -3.6%, respectively.

BIB support price is $50.11 and resistance is $52.51 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BIB stock will trade within this expected range on the day.