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

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

ProShares UltraShort Nasdaq Biotechnology Stock Performance

NASDAQ BIS opened at $19.82 on Wednesday. ProShares UltraShort Nasdaq Biotechnology has a fifty-two week low of $14.05 and a fifty-two week high of $25.87. The stock’s 50-day moving average is $18.45 and its two-hundred day moving average is $17.23.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC grew its position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 267.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,696 shares of the company’s stock after purchasing an additional 28,176 shares during the quarter. Jane Street Group LLC owned approximately 19.35% of ProShares UltraShort Nasdaq Biotechnology worth $704,000 as of its most recent SEC filing.

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.