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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 11,800 shares, a decrease of 71.8% from the December 31st total of 41,800 shares. Based on an average trading volume of 12,100 shares, the days-to-cover ratio is presently 1.0 days.

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 purchased a new stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 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.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of ProShares UltraShort Nasdaq Biotechnology stock traded down $0.31 during trading on Thursday, reaching $16.41. The company had a trading volume of 4,614 shares, compared to its average volume of 6,485. The firm’s fifty day moving average is $17.24 and its 200-day moving average is $15.90. ProShares UltraShort Nasdaq Biotechnology has a fifty-two week low of $14.05 and a fifty-two week high of $21.10.

ProShares UltraShort Nasdaq Biotechnology Increases Dividend

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

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.