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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 12,400 shares, a decrease of 30.7% from the August 31st total of 17,900 shares. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC raised its stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,210 shares of the company’s stock after purchasing an additional 10,209 shares during the period. IMC Chicago LLC owned 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 at the end of the most recent quarter.

ProShares UltraShort Nasdaq Biotechnology Stock Down 1.9 %

Shares of NASDAQ:BIS traded down $0.29 during trading on Friday, hitting $14.98. 3,724 shares of the company were exchanged, compared to its average volume of 14,626. ProShares UltraShort Nasdaq Biotechnology has a 1-year low of $14.05 and a 1-year high of $26.51. The business’s 50 day moving average is $14.98 and its 200-day moving average is $16.81.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th will be given a dividend of $0.1518 per share. The ex-dividend date is Wednesday, September 25th.

About ProShares UltraShort Nasdaq Biotechnology

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.