ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS – Get Rating) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 32,500 shares, a decrease of 35.6% from the October 31st total of 50,500 shares. Based on an average trading volume of 15,800 shares, the days-to-cover ratio is currently 2.1 days.

ProShares UltraShort Nasdaq Biotechnology Price Performance

NASDAQ BIS traded up $0.09 on Wednesday, reaching $19.86. The company's stock had a trading volume of 7,848 shares, compared to its average volume of 24,243. ProShares UltraShort Nasdaq Biotechnology has a twelve month low of $18.82 and a twelve month high of $35.64. The firm's 50 day moving average is $22.35 and its two-hundred day moving average is $24.43.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of BIS. UBS Group AG lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 54.7% during the first quarter. UBS Group AG now owns 1,371 shares of the company's stock valued at $33,000 after buying an additional 485 shares in the last quarter. IMC Chicago LLC lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 12.5% during the second quarter. IMC Chicago LLC now owns 21,003 shares of the company's stock valued at $566,000 after buying an additional 2,335 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in ProShares UltraShort Nasdaq Biotechnology by 234.0% during the second quarter. Citadel Advisors LLC now owns 34,972 shares of the company's stock valued at $943,000 after buying an additional 24,501 shares in the last quarter.

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.

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