ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Trading 0.5% Higher – Still a Buy?

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) shares rose 0.5% on Monday . The stock traded as high as $17.91 and last traded at $17.77. Approximately 19,883 shares changed hands during trading, an increase of 42% from the average daily volume of 14,050 shares. The stock had previously closed at $17.68.

ProShares UltraShort Nasdaq Biotechnology Trading Up 0.5 %

The stock’s 50-day moving average is $15.19 and its two-hundred day moving average is $15.88.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC acquired a new stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,520 shares of the company’s stock, valued at approximately $158,000. Jane Street Group LLC owned 4.78% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent reporting period.

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.