Short Interest in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Grows By 99.1%

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 21,029 shares, a growth of 99.1% from the January 15th total of 10,560 shares. Approximately 7.0% of the company’s shares are sold short. Based on an average daily trading volume, of 18,168 shares, the short-interest ratio is presently 1.2 days. Based on an average daily trading volume, of 18,168 shares, the short-interest ratio is presently 1.2 days. Approximately 7.0% of the company’s shares are sold short.

Hedge Funds Weigh In On ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group purchased a new position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned 6.54% of ProShares UltraShort Nasdaq Biotechnology as of its most recent SEC filing.

ProShares UltraShort Nasdaq Biotechnology Stock Down 2.1%

Shares of NASDAQ:BIS opened at $8.75 on Friday. The company has a 50-day moving average price of $9.14 and a 200-day moving average price of $11.36. ProShares UltraShort Nasdaq Biotechnology has a 12 month low of $8.37 and a 12 month high of $25.87.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were issued a $0.1026 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.41 annualized dividend and a yield of 4.7%.

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.