ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) Stock Price Pass Below Fifty Day Moving Average of $14.93

ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.93 and traded as low as $14.40. ProShares UltraShort Nasdaq Biotechnology shares last traded at $14.50, with a volume of 4,834 shares.

ProShares UltraShort Nasdaq Biotechnology Stock Performance

The business has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $16.87.

ProShares UltraShort Nasdaq Biotechnology Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th were issued a dividend of $0.1612 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Wednesday, June 26th.

Institutional Investors Weigh In On ProShares UltraShort Nasdaq Biotechnology

A hedge fund recently bought a new stake in ProShares UltraShort Nasdaq Biotechnology stock. IMC Chicago LLC bought a new position in ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,001 shares of the company’s stock, valued at approximately $271,000. IMC Chicago LLC owned about 3.19% of ProShares UltraShort Nasdaq Biotechnology as of its most recent SEC filing.

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.