ProShares Ultra Nasdaq Biotechnology (BIB)

BIB (ProShares Ultra Nasdaq Biotechnology) is an exchange-traded fund (ETF) managed by ProShares Advisors LLC. The ETF seeks to provide investors with twice (2x) the daily return of the Nasdaq Biotechnology Index, which is a benchmark that tracks the performance of biotechnology and pharmaceutical companies listed on the Nasdaq Stock Market.

As a leveraged ETF, BIB uses financial derivatives and other investment strategies to amplify the daily returns of the underlying index. This means that if the Nasdaq Biotechnology Index rises by 1% on a given day, BIB should deliver a return of 2% (before fees and expenses). However, if the index falls by 1%, BIB would be expected to deliver a loss of 2%.

The fund's top holdings included companies such as Amgen, Gilead Sciences, and Regeneron Pharmaceuticals.