ProShares UltraShort Nasdaq Biotechnology Stock to Reverse Split on Thursday, May 28th (NASDAQ:BIS)

Shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) are set to reverse split on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

ProShares UltraShort Nasdaq Biotechnology Stock Down 2.1%

NASDAQ BIS traded down $0.18 during midday trading on Tuesday, hitting $8.33. 21,740 shares of the company traded hands, compared to its average volume of 16,749. The company’s 50-day simple moving average is $8.81 and its 200-day simple moving average is $9.25. ProShares UltraShort Nasdaq Biotechnology has a 52 week low of $7.95 and a 52 week high of $20.81.

Institutional Trading of ProShares UltraShort Nasdaq Biotechnology

An institutional investor recently bought a new position in ProShares UltraShort Nasdaq Biotechnology stock. Csenge Advisory Group bought a new stake in shares of ProShares UltraShort Nasdaq Biotechnology (NASDAQ:BIS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,421 shares of the company’s stock, valued at approximately $163,000. Csenge Advisory Group owned approximately 6.54% of ProShares UltraShort Nasdaq Biotechnology at the end of the most recent quarter.

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.