ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 87,800 shares, an increase of 644.1% from the June 15th total of 11,800 shares. Based on an average daily volume of 25,500 shares, the short-interest ratio is presently 3.4 days.

Shares of NASDAQ BIS remained flat at $$24.12 during mid-day trading on Thursday. 4,231 shares of the company were exchanged, compared to its average volume of 25,067. The stock has a 50-day simple moving average of $28.76 and a 200 day simple moving average of $26.34. ProShares UltraShort Nasdaq Biotechnology has a 1 year low of $15.86 and a 1 year high of $35.64.

Several hedge funds and other institutional investors have recently bought and sold shares of BIS. IMC Chicago LLC purchased a new position in shares of ProShares UltraShort Nasdaq Biotechnology in the 1st quarter valued at $450,000. OLD Mission Capital LLC purchased a new position in shares of ProShares UltraShort Nasdaq Biotechnology in the 4th quarter valued at $266,000. Finally, UBS Group AG grew its position in shares of ProShares UltraShort Nasdaq Biotechnology by 54.7% in the 1st quarter. UBS Group AG now owns 1,371 shares of the company's stock valued at $33,000 after buying an additional 485 shares during the last quarter.

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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