ProShares has listed two ETFs providing leveraged and inverse exposure to biotechnology on the US Nasdaq stock exchange.
The ProShares Ultra Nasdaq Biotechnology fund is designed to provide 200% of the daily performance of the underlying Nasdaq Biotechnology index. The ProShares UltraShort Nasdaq Biotechnology fund aims to return 200% of the inverse daily performance of the same underlying benchmark. If the funds are held for periods other than one day, they will likely provide returns which differ in amount and possibly direction from the target, due to the compounding of daily returns in the underlying benchmark. Nasdaq OMX Global Index Group executive vice president John Jacobs says: "These new Pr...
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