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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,300 shares, an increase of 18.6% from the March 15th total of 7,000 shares. Based on an average daily trading volume, of 11,400 shares, the short-interest ratio is currently 0.7 days. Currently, 4.2% of the shares of the company are sold short.

ProShares UltraShort Nasdaq Biotechnology Price Performance

NASDAQ BIS traded up $0.55 during trading hours on Monday, reaching $21.20. The stock had a trading volume of 2,695 shares, compared to its average volume of 11,073. ProShares UltraShort Nasdaq Biotechnology has a 52-week low of $14.05 and a 52-week high of $25.87. The stock has a fifty day moving average of $18.31 and a 200 day moving average of $17.17.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were paid a $0.1325 dividend. The ex-dividend date was Wednesday, March 26th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.50%.

Institutional Investors 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 bought a new position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,520 shares of the company’s stock, valued at approximately $158,000. Jane Street Group LLC owned about 4.78% of ProShares UltraShort Nasdaq Biotechnology as of its most recent SEC filing.

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.