ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Short Interest Down 31.5% in September

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 8,500 shares, a drop of 31.5% from the September 15th total of 12,400 shares. Based on an average trading volume of 13,300 shares, the days-to-cover ratio is currently 0.6 days.

ProShares UltraShort Nasdaq Biotechnology Price Performance

Shares of NASDAQ BIS traded down $0.58 during mid-day trading on Friday, hitting $15.06. The company had a trading volume of 9,042 shares, compared to its average volume of 14,174. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $14.05 and a 1 year high of $26.51. The stock’s 50-day moving average price is $15.12 and its 200-day moving average price is $16.62.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The business also recently announced 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 Inflows and Outflows

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC raised its holdings in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,210 shares of the company’s stock after acquiring an additional 10,209 shares during the quarter. IMC Chicago LLC owned approximately 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 as of its most recent SEC filing.

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.