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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 5,794 shares, a decrease of 44.3% from the August 15th total of 10,400 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,937 shares, the short-interest ratio is presently 0.4 days.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of BIS stock opened at $11.76 on Tuesday. ProShares UltraShort Nasdaq Biotechnology has a twelve month low of $10.51 and a twelve month high of $28.48. The stock’s fifty day simple moving average is $12.43 and its 200 day simple moving average is $15.40.

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.