ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report)’s share price dropped 3% during trading on Tuesday . The stock traded as low as $17.05 and last traded at $17.19. Approximately 11,124 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 8,300 shares. The stock had previously closed at $17.73.
ProShares UltraShort Nasdaq Biotechnology Stock Down 5.4%
The firm’s 50-day moving average is $17.14 and its 200 day moving average is $17.85.
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.
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