ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Sees Significant Decline in Short Interest

by · The Cerbat Gem

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 6,800 shares, a decrease of 20.0% from the September 30th total of 8,500 shares. Based on an average daily volume of 13,700 shares, the days-to-cover ratio is currently 0.5 days.

ProShares UltraShort Nasdaq Biotechnology Trading Down 1.9 %

Shares of BIS traded down $0.30 during midday trading on Monday, reaching $15.24. 13,224 shares of the company were exchanged, compared to its average volume of 14,053. ProShares UltraShort Nasdaq Biotechnology has a 1-year low of $14.05 and a 1-year high of $26.51. The stock has a 50-day moving average price of $14.97 and a 200-day moving average price of $16.37.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

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

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC boosted its stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Free Report) by 68.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,210 shares of the company’s stock after acquiring 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 reporting period.

ProShares UltraShort Nasdaq Biotechnology Company Profile

(Get Free Report)

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.

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