ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 17,000 shares, a decline of 9.6% from the March 31st total of 18,800 shares. Based on an average daily volume of 14,200 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG grew its position in ProShares UltraShort Nasdaq Biotechnology by 54.7% in the first quarter. UBS Group AG now owns 1,371 shares of the company's stock valued at $33,000 after acquiring an additional 485 shares during the period. IMC Chicago LLC grew its position in ProShares UltraShort Nasdaq Biotechnology by 11.1% in the third quarter. IMC Chicago LLC now owns 23,335 shares of the company's stock valued at $590,000 after acquiring an additional 2,332 shares during the period. Finally, Citadel Advisors LLC grew its position in ProShares UltraShort Nasdaq Biotechnology by 234.0% in the second quarter. Citadel Advisors LLC now owns 34,972 shares of the company's stock valued at $943,000 after acquiring an additional 24,501 shares during the period.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of BIS traded up $0.46 on Tuesday, reaching $19.84. 631 shares of the stock traded hands, compared to its average volume of 15,581. ProShares UltraShort Nasdaq Biotechnology has a 12 month low of $17.88 and a 12 month high of $35.64. The stock's 50-day moving average price is $19.96 and its 200-day moving average price is $19.91.

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.

Further Reading

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