ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 16,700 shares, a growth of 12.1% from the January 15th total of 14,900 shares. Based on an average daily trading volume, of 18,300 shares, the days-to-cover ratio is currently 0.9 days.
Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology
A number of institutional investors have recently added to or reduced their stakes in the company. IMC Chicago LLC lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 11.1% during the third quarter. IMC Chicago LLC now owns 23,335 shares of the company's stock worth $590,000 after purchasing an additional 2,332 shares during the period. Citadel Advisors LLC lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 234.0% during the second quarter. Citadel Advisors LLC now owns 34,972 shares of the company's stock worth $943,000 after purchasing an additional 24,501 shares during the period. Finally, UBS Group AG lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 236,300.0% during the fourth quarter. UBS Group AG now owns 2,364 shares of the company's stock worth $46,000 after purchasing an additional 2,363 shares during the period.
Get ProShares UltraShort Nasdaq Biotechnology alerts:ProShares UltraShort Nasdaq Biotechnology Stock Up 2.8 %
Shares of NASDAQ:BIS opened at $19.71 on Friday. The stock's 50-day moving average is $19.01 and its 200-day moving average is $21.16. ProShares UltraShort Nasdaq Biotechnology has a 52-week low of $17.88 and a 52-week high of $35.64.
ProShares UltraShort Nasdaq Biotechnology Company Profile
(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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