Short Interest in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Increases By 305.8%

Posted by Tyrone Williams on Jan 15th, 2025

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 41,800 shares, an increase of 305.8% from the December 15th total of 10,300 shares. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is presently 3.3 days.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC acquired a new position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

NASDAQ BIS traded down $0.72 during trading on Wednesday, hitting $18.08. 4,421 shares of the company’s stock traded hands, compared to its average volume of 5,591. ProShares UltraShort Nasdaq Biotechnology has a 12-month low of $14.05 and a 12-month high of $21.10. The stock has a fifty day moving average of $16.95 and a two-hundred day moving average of $15.83.

ProShares UltraShort Nasdaq Biotechnology Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.2064 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from ProShares UltraShort Nasdaq Biotechnology’s previous dividend of $0.15.

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.