ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Sees Large Drop in Short Interest

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 5,794 shares, a decline of 44.3% from the August 15th total of 10,400 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 12,937 shares, the days-to-cover ratio is currently 0.4 days.

ProShares UltraShort Nasdaq Biotechnology Stock Down 1.0%

BIS stock traded down $0.12 on Wednesday, hitting $11.98. The company’s stock had a trading volume of 3,561 shares, compared to its average volume of 7,943. The firm has a 50 day moving average of $12.43 and a two-hundred day moving average of $15.37. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $10.51 and a 1 year high of $28.20.

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.