Name of ETF: ProShares UltraShort Nasdaq Biotechnology
Benchmark Index: NASDAQ Biotechnology Index
Ticker Symbol: BIS
Types of Companies Included: Companies in the U.S. biotechnology industry. Examples of companies in this industry are:
- Biogen (BIIB)
- Celegene Corp (CELG)
- Gilead Sciences (GILD
- Amgen Inc.(AMGN)
- Regeneron Pharmaceuticals (REGN)
- Illumina INC (ILMN)
Daily Target: -2x
Short ETF: This ETF attempts to produce investment results in the opposite direction of the index. If the NASDAQ Biotechnology Index goes up, the ETF is designed to go down. If the NASDAQ Biotechnology Index goes down, the ETF is designed to go up.
Leveraged ETF: This ETF is a leveraged ETF which means the ETF attempts to produce daily returns above the benchmark index results based on a multiplier. In the case of this ETF, the multiplier is -2x (-200%). This means the ETF is seeking a daily target equal to -200% of the benchmark index.
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