ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Stock Price Pass Above Two Hundred Day Moving Average – Should You Sell?

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.85 and traded as high as $16.24. ProShares UltraShort Nasdaq Biotechnology shares last traded at $16.18, with a volume of 17,471 shares changing hands.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

The business’s 50 day moving average price is $15.47 and its 200 day moving average price is $15.84.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

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

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Jane Street Group LLC purchased a new stake in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,520 shares of the company’s stock, valued at approximately $158,000. Jane Street Group LLC owned about 4.78% of ProShares UltraShort Nasdaq Biotechnology as of its most recent filing with the Securities and Exchange Commission (SEC).

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.