ProShares - UltraShort Nasdaq Biotechnology
BIS
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 7501 Wisconsin Avenue, Suite 1000E Bethesda MD United States of America 20814
- IPO Date
- Apr 9, 2010
- CIK
- 0001174610
- Website
- proshares.com
- Similar Companies
- Business
- ProShares UltraShort Nasdaq Biotechnology (BIS), an exchange-traded fund managed by ProShare Advisors LLC as part of ProShares Trust, seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Nasdaq Biotechnology Index. The fund invests principally in derivatives, including swap agreements with major global financial institutions such as BNP Paribas, Citibank NA, Bank of America NA, UBS AG, and Societe Generale, as well as money market instruments like U.S. Treasury bills and repurchase agreements, to achieve its leveraged inverse exposure; it maintains a representative sample of index exposure and rebalances daily without regard to market conditions. Launched on April 7, 2010, and headquartered at 7272 Wisconsin Avenue, 21st Floor, Bethesda, Maryland 20814, the fund targets sophisticated investors seeking short-term bearish exposure to the biotechnology and pharmaceutical sectors, including companies engaged in drug discovery, diagnostic development, and prescription or over-the-counter drug manufacturing listed on Nasdaq markets; it features a net expense ratio of 0.95% through September 30, 2026, quarterly distributions, and options availability. The Nasdaq Biotechnology Index, which the fund inversely tracks at -2x leverage, comprises 251 companies as of September 30, 2025, weighted by market capitalization with a price/book ratio of 3.78, dividend yield of 0.85%, and average market cap of $6.56 billion; the index focuses on Nasdaq-listed biotechnology and pharmaceutical firms selected for liquidity and rebalanced quarterly. Recent developments include a fee waiver and expense reimbursement by ProShare Advisors through September 30, 2026, reducing total annual operating expenses to 0.95% from a gross of 3.20%; a change in the fund's broad-based securities market index benchmark from the Nasdaq-100 Index to the Nasdaq Composite Index effective after November 13, 2024, for improved comparative performance measurement; and routine quarterly dividends, such as the December 23, 2024, ex-dividend payment of $0.20639 per share, alongside ongoing short interest fluctuations and portfolio adjustments amid biotech sector volatility.