ProShares Trust - ProShares Ultra Nasdaq Biotechnology is an exchange traded fund launched and managed by ProShare Advisors LLC. It invests in public equity markets of the United States. It invests through derivatives in stocks of companies operating across health care, pharmaceuticals, biotechnology, drugs manufacturer, diagnostic development and life sciences sectors. It uses derivatives such as swaps to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization. The fund seeks to track 2x the daily performance of the Nasdaq Biotechnology Index, by using full replication technique. ProShares Trust - ProShares Ultra Nasdaq Biotechnology was formed on April 7, 2010 and is domiciled in the United States.