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

Posted by Doug Wharley on Dec 2nd, 2024

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 8,600 shares, a growth of 32.3% from the October 31st total of 6,500 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is currently 0.6 days.

ProShares UltraShort Nasdaq Biotechnology Stock Up 0.1 %

BIS opened at $15.83 on Monday. ProShares UltraShort Nasdaq Biotechnology has a one year low of $14.05 and a one year high of $23.42. The business has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $15.78.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm 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 was Wednesday, September 25th.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC acquired a new stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 10,520 shares of the company’s stock, valued at approximately $158,000. Jane Street Group LLC owned approximately 4.78% of ProShares UltraShort Nasdaq Biotechnology as of its most recent filing with the SEC.

About ProShares UltraShort Nasdaq Biotechnology

(Get Free Report)

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.