ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Short Interest Down 20.0% in October

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 6,800 shares, a decline of 20.0% from the September 30th total of 8,500 shares. Based on an average daily volume of 13,700 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC boosted its position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 68.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,210 shares of the company’s stock after acquiring an additional 10,209 shares during the period. IMC Chicago LLC owned 11.46% of ProShares UltraShort Nasdaq Biotechnology worth $443,000 as of its most recent SEC filing.

ProShares UltraShort Nasdaq Biotechnology Stock Down 1.9 %

Shares of NASDAQ:BIS traded down $0.30 during midday trading on Tuesday, reaching $15.24. The company’s stock had a trading volume of 13,224 shares, compared to its average volume of 14,053. The firm has a 50 day moving average price of $14.99 and a two-hundred day moving average price of $16.35. ProShares UltraShort Nasdaq Biotechnology has a fifty-two week low of $14.05 and a fifty-two week high of $26.51.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were paid a $0.1518 dividend. The ex-dividend date of this dividend was Wednesday, September 25th.

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.