Short Interest in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Expands By 29.4%

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 16,300 shares, an increase of 29.4% from the May 15th total of 12,600 shares. Based on an average daily volume of 7,200 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

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

ProShares UltraShort Nasdaq Biotechnology Price Performance

BIS traded up $0.23 during mid-day trading on Friday, reaching $17.07. 57 shares of the company traded hands, compared to its average volume of 16,034. ProShares UltraShort Nasdaq Biotechnology has a 52-week low of $16.37 and a 52-week high of $26.51. The company’s fifty day moving average price is $18.41 and its 200-day moving average price is $18.41.

ProShares UltraShort Nasdaq Biotechnology Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Thursday, March 21st were issued a $0.1586 dividend. The ex-dividend date of this dividend was Wednesday, March 20th.

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.