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

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 7,292 shares, an increase of 58.6% from the July 15th total of 4,599 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 4,832 shares, the days-to-cover ratio is presently 1.5 days.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

Shares of NASDAQ BIS opened at $12.03 on Wednesday. The stock’s fifty day simple moving average is $13.96 and its 200 day simple moving average is $16.24. ProShares UltraShort Nasdaq Biotechnology has a 52-week low of $12.03 and a 52-week high of $29.18.

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.