Those who are more pessimistic about the biotech sector’s fate have been piling into ProShares Ultrashort Nasdaq Biotechnology (NasdaqGM: BIS), which tracks the -2x, or -200%, daily performance of the NASDAQ Biotechnology Index. Since February 25, BIS has surged 34.5%. [A Gutsy Technical Call on a Biotech ETF]

Chart Courtesy: Bank of America Merrill Lynch

For more information on the biotech sector, visit our biotechnology category.