ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Trading Down 3.3%

Shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) dropped 3.3% on Tuesday . The company traded as low as $13.19 and last traded at $13.28, approximately 2,199 shares changed hands during trading. A decline of 97% from the average daily volume of 77,650 shares. The stock had previously closed at $13.73.

The stock has a 50 day moving average price of $13.48 and a two-hundred day moving average price of $16.89.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 26th were given a $0.0413 dividend. This represents a $0.17 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, December 24th.

A hedge fund recently raised its stake in ProShares UltraShort Nasdaq Biotechnology stock. Tower Research Capital LLC TRC raised its position in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) by 1,627.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,459 shares of the company’s stock after purchasing an additional 6,085 shares during the quarter. Tower Research Capital LLC TRC owned 0.50% of ProShares UltraShort Nasdaq Biotechnology worth $129,000 at the end of the most recent reporting period.

About ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS)

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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