ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Shares Up 0.9% – What’s Next?

Shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) were up 0.9% during mid-day trading on Friday . The company traded as high as $9.50 and last traded at $9.46. 6,407 shares traded hands during trading, a decline of 47% from the average daily volume of 11,984 shares. The stock had previously closed at $9.38.

ProShares UltraShort Nasdaq Biotechnology Stock Up 0.9%

The firm has a 50 day moving average price of $10.96 and a 200-day moving average price of $14.19.

ProShares UltraShort Nasdaq Biotechnology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were issued a $0.1543 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Wednesday, September 24th. This is a positive change from ProShares UltraShort Nasdaq Biotechnology’s previous quarterly dividend of $0.11.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group 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 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned about 6.54% of ProShares UltraShort Nasdaq Biotechnology as of its most recent filing with the Securities and Exchange Commission (SEC).

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.