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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 8,800 shares, a decrease of 35.8% from the July 31st total of 13,700 shares. Based on an average daily trading volume, of 8,200 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC acquired a new stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,001 shares of the company’s stock, valued at approximately $271,000. IMC Chicago LLC owned approximately 3.19% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent quarter.

ProShares UltraShort Nasdaq Biotechnology Stock Up 0.2 %

BIS traded up $0.03 on Friday, hitting $14.48. The company had a trading volume of 64,168 shares, compared to its average volume of 14,180. The company’s fifty day moving average price is $15.40 and its 200 day moving average price is $17.16. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $14.07 and a 1 year high of $26.51.

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 issued a $0.1612 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $0.64 annualized dividend and a dividend yield of 4.45%.

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.