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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 10,921 shares, a decline of 48.1% from the January 29th total of 21,029 shares. Based on an average daily volume of 17,953 shares, the days-to-cover ratio is presently 0.6 days. Approximately 3.6% of the company’s stock are short sold. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 17,953 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group acquired a new position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned about 6.54% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent quarter.

ProShares UltraShort Nasdaq Biotechnology Trading Up 1.4%

NASDAQ:BIS opened at $8.56 on Friday. ProShares UltraShort Nasdaq Biotechnology has a 52 week low of $8.31 and a 52 week high of $25.87. The firm has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $10.94.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $0.1026 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.41 annualized dividend and a dividend yield of 4.8%.

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.