ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 11,800 shares, a decline of 21.9% from the May 31st total of 15,100 shares. Based on an average daily trading volume, of 21,900 shares, the days-to-cover ratio is currently 0.5 days.
Shares of BIS opened at $24.68 on Wednesday. The stock's fifty day moving average price is $29.23 and its two-hundred day moving average price is $26.20. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $15.86 and a 1 year high of $35.64.
Get ProShares UltraShort Nasdaq Biotechnology alerts:Several institutional investors and hedge funds have recently modified their holdings of the business. IMC Chicago LLC bought a new stake in shares of ProShares UltraShort Nasdaq Biotechnology during the 1st quarter valued at $450,000. OLD Mission Capital LLC bought a new stake in shares of ProShares UltraShort Nasdaq Biotechnology during the 4th quarter valued at $266,000. Finally, UBS Group AG raised its stake in shares of ProShares UltraShort Nasdaq Biotechnology by 54.7% during the 1st quarter. UBS Group AG now owns 1,371 shares of the company's stock valued at $33,000 after purchasing an additional 485 shares during the period.
About ProShares UltraShort Nasdaq Biotechnology (Get Rating)
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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