ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 13,500 shares, a decline of 84.6% from the June 30th total of 87,800 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 0.4 days.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

BIS opened at $24.24 on Friday. The business has a 50 day moving average price of $27.21 and a 200 day moving average price of $26.59. ProShares UltraShort Nasdaq Biotechnology has a twelve month low of $15.86 and a twelve month high of $35.64.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIS. IMC Chicago LLC acquired a new stake in ProShares UltraShort Nasdaq Biotechnology in the 1st quarter worth approximately $450,000. OLD Mission Capital LLC acquired a new stake in ProShares UltraShort Nasdaq Biotechnology in the 4th quarter worth approximately $266,000. Finally, UBS Group AG lifted its holdings in ProShares UltraShort Nasdaq Biotechnology by 54.7% in the 1st quarter. UBS Group AG now owns 1,371 shares of the company's stock worth $33,000 after purchasing an additional 485 shares during the last quarter.

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.

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