ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Free Report) dropped 3.1% during mid-day trading on Wednesday. The stock traded as low as $11.90 and last traded at $11.94. 7,143 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 8,186 shares. The stock had previously closed at $12.32.
ProShares UltraShort Nasdaq Biotechnology Price Performance
The firm has a 50-day simple moving average of $11.60 and a 200 day simple moving average of $14.40.
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.
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