ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Short Interest Down 20.0% in October

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 6,800 shares, a drop of 20.0% from the September 30th total of 8,500 shares. Based on an average daily volume of 13,700 shares, the days-to-cover ratio is presently 0.5 days.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of BIS traded down $0.30 during mid-day trading on Tuesday, reaching $15.24. The company’s stock had a trading volume of 13,224 shares, compared to its average volume of 14,053. ProShares UltraShort Nasdaq Biotechnology has a 1-year low of $14.05 and a 1-year high of $26.51. The business has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $16.35.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company 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 of this dividend was Wednesday, September 25th.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently raised its stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC boosted its stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,210 shares of the company’s stock after acquiring an additional 10,209 shares during the period. IMC Chicago LLC owned 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 at the end of the most recent reporting period.

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.