ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 4,237,672 shares, a drop of 40.6% from the September 15th total of 7,128,279 shares. Currently, 10.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,436,395 shares, the short-interest ratio is currently 1.0 days.
Institutional Trading of ProShares Ultra Bitcoin ETF
Hedge funds have recently bought and sold shares of the business. Toth Financial Advisory Corp acquired a new stake in ProShares Ultra Bitcoin ETF in the 3rd quarter valued at about $51,000. Farther Finance Advisors LLC lifted its stake in ProShares Ultra Bitcoin ETF by 358.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,310 shares of the company’s stock worth $65,000 after purchasing an additional 3,370 shares in the last quarter. SkyOak Wealth LLC purchased a new position in ProShares Ultra Bitcoin ETF in the 2nd quarter worth approximately $95,000. Apollon Wealth Management LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the 1st quarter worth approximately $195,000. Finally, IMC Chicago LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the 1st quarter worth approximately $311,000.
ProShares Ultra Bitcoin ETF Stock Performance
BITU opened at $14.39 on Thursday. ProShares Ultra Bitcoin ETF has a twelve month low of $7.92 and a twelve month high of $53.44. The firm’s 50-day moving average price is $13.37 and its 200 day moving average price is $12.27.
About ProShares Ultra Bitcoin ETF
The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.
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