ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Short Interest Update

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 8,500 shares, a drop of 31.5% from the September 15th total of 12,400 shares. Based on an average daily trading volume, of 13,300 shares, the days-to-cover ratio is currently 0.6 days.

ProShares UltraShort Nasdaq Biotechnology Price Performance

NASDAQ BIS traded down $0.58 on Friday, reaching $15.06. 9,042 shares of the stock were exchanged, compared to its average volume of 14,174. The company’s 50-day simple moving average is $15.12 and its two-hundred day simple moving average is $16.61. ProShares UltraShort Nasdaq Biotechnology has a one year low of $14.05 and a one year high of $26.51.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were given a dividend of $0.1518 per share. The ex-dividend date was Wednesday, September 25th.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC increased its stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,210 shares of the company’s stock after acquiring an additional 10,209 shares during the period. IMC Chicago LLC owned about 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

ProShares UltraShort Nasdaq Biotechnology Company Profile

ProShares Ultra Nasdaq Biotechnology (the Fund) seeks investment results for a single day only, not for longer periods. 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 twice (200%) the return of the Nasdaq Biotechnology Index (the Index) for that period.