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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 11,400 shares, a drop of 17.4% from the June 30th total of 13,800 shares. Based on an average daily trading volume, of 6,000 shares, the days-to-cover ratio is currently 1.9 days.

ProShares UltraShort Nasdaq Biotechnology Price Performance

NASDAQ:BIS traded down $0.11 during mid-day trading on Friday, reaching $14.36. The stock had a trading volume of 4,657 shares, compared to its average volume of 14,221. ProShares UltraShort Nasdaq Biotechnology has a twelve month low of $14.07 and a twelve month high of $26.51. The business has a 50 day simple moving average of $16.54 and a 200 day simple moving average of $17.62.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th were given a $0.1612 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $0.64 dividend on an annualized basis and a yield of 4.49%.

Institutional Investors 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 stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 15,001 shares of the company’s stock, valued at approximately $271,000. IMC Chicago LLC owned 3.19% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent quarter.

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.