ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Sees Large Drop in Short Interest

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

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC increased its position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,210 shares of the company’s stock after acquiring an additional 10,209 shares during the period. IMC Chicago LLC owned approximately 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of BIS traded down $0.08 during midday trading on Monday, hitting $14.98. 8,973 shares of the company’s stock traded hands, compared to its average volume of 14,147. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $14.05 and a 1 year high of $26.51. The firm’s fifty day moving average is $15.12 and its 200-day moving average is $16.61.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

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