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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 10,560 shares, a growth of 59.6% from the December 31st total of 6,618 shares. Based on an average daily volume of 15,067 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.8% of the shares of the stock are sold short. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 15,067 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group bought a new position in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned 6.54% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent reporting period.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of NASDAQ BIS traded down $0.15 during trading hours on Monday, hitting $8.84. 4,537 shares of the stock were exchanged, compared to its average volume of 16,068. The company’s fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $11.81. ProShares UltraShort Nasdaq Biotechnology has a 1-year low of $8.37 and a 1-year high of $25.87.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were paid a $0.1026 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $0.41 annualized dividend and a yield of 4.6%.

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.