ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Short Interest Down 30.7% in September

Posted by William Tyler on Sep 29th, 2024

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 12,400 shares, a decline of 30.7% from the August 31st total of 17,900 shares. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC grew its stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Free Report) by 68.1% during the first quarter, according to its most recent 13F filing with the Securities and 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 about 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 at the end of the most recent quarter.

ProShares UltraShort Nasdaq Biotechnology Price Performance

Shares of BIS stock traded down $0.06 on Friday, reaching $15.21. 5,878 shares of the company’s stock were exchanged, compared to its average volume of 14,638. ProShares UltraShort Nasdaq Biotechnology has a 52 week low of $14.05 and a 52 week high of $26.51. The company’s fifty day simple moving average is $14.98 and its 200 day simple moving average is $16.79.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th will be given a dividend of $0.1518 per share. The ex-dividend date is Wednesday, September 25th.

ProShares UltraShort Nasdaq Biotechnology Company Profile

(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.