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

Posted by Don Miller on Aug 30th, 2024

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 8,800 shares, a decline 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 presently 1.1 days.

ProShares UltraShort Nasdaq Biotechnology Stock Up 0.2 %

Shares of NASDAQ BIS traded up $0.03 on Friday, hitting $14.48. The company’s stock had a trading volume of 64,168 shares, compared to its average volume of 14,180. The stock has a 50 day moving average of $15.40 and a 200-day moving average of $17.16. ProShares UltraShort Nasdaq Biotechnology has a 12-month low of $14.07 and a 12-month high of $26.51.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 26th were given a dividend of $0.1612 per share. This represents a $0.64 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Wednesday, June 26th.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC lifted its position in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Free Report) by 68.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,210 shares of the company’s stock after buying an additional 10,209 shares during the period. IMC Chicago LLC owned approximately 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 as of its most recent SEC filing.

About ProShares UltraShort Nasdaq Biotechnology

(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.