ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Shares Down 0.4% – Here’s Why

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) shares fell 0.4% during trading on Wednesday . The company traded as low as $8.11 and last traded at $8.12. 7,088 shares traded hands during trading, a decline of 54% from the average session volume of 15,387 shares. The stock had previously closed at $8.15.

ProShares UltraShort Nasdaq Biotechnology Trading Down 0.4%

The stock’s 50-day simple moving average is $8.87 and its 200 day simple moving average is $9.70.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were given a dividend of $0.0686 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.27 dividend on an annualized basis and a yield of 3.4%.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group purchased a new stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned about 6.54% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent quarter.

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.