Short Interest in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Expands By 103.4%

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 17,900 shares, a growth of 103.4% from the August 15th total of 8,800 shares. Based on an average trading volume of 9,800 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC purchased a new position in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,001 shares of the company’s stock, valued at approximately $271,000. IMC Chicago LLC owned approximately 3.19% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent reporting period.

ProShares UltraShort Nasdaq Biotechnology Price Performance

NASDAQ:BIS traded down $0.46 on Friday, hitting $14.41. The company’s stock had a trading volume of 22,034 shares, compared to its average volume of 14,192. The stock has a fifty day moving average of $15.05 and a two-hundred day moving average of $16.96. ProShares UltraShort Nasdaq Biotechnology has a one year low of $14.07 and a one year high of $26.51.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were given a $0.1612 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Wednesday, June 26th.

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.