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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 10,300 shares, an increase of 22.6% from the November 30th total of 8,400 shares. Based on an average daily trading volume, of 12,700 shares, the short-interest ratio is currently 0.8 days.

ProShares UltraShort Nasdaq Biotechnology Trading Down 0.4 %

Shares of BIS stock traded down $0.08 on Tuesday, reaching $18.34. 3,237 shares of the stock were exchanged, compared to its average volume of 14,055. The firm has a 50 day moving average of $16.38 and a two-hundred day moving average of $15.74. ProShares UltraShort Nasdaq Biotechnology has a 1-year low of $14.05 and a 1-year high of $21.10.

ProShares UltraShort Nasdaq Biotechnology Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.2064 per share. This is a boost from ProShares UltraShort Nasdaq Biotechnology’s previous dividend of $0.15. The ex-dividend date is Monday, December 23rd.

Hedge Funds 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 shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the third quarter, according to its most recent disclosure 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 filing with the Securities and Exchange Commission (SEC).

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.