ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Share Price Pass Above 50 Day Moving Average – What’s Next?

Shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.69 and traded as high as $16.09. ProShares UltraShort Nasdaq Biotechnology shares last traded at $16.00, with a volume of 36,680 shares.

ProShares UltraShort Nasdaq Biotechnology Trading Up 0.5 %

The company has a fifty day moving average price of $15.74 and a 200 day moving average price of $15.72.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were issued a dividend of $0.1518 per share. The ex-dividend date was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC bought a new stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

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.