ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Update

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 23,490,727 shares, a decline of 21.5% from the November 30th total of 29,906,187 shares. Approximately 15.4% of the shares of the company are sold short. Based on an average daily volume of 41,026,744 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 41,026,744 shares, the short-interest ratio is presently 0.6 days. Approximately 15.4% of the shares of the company are sold short.

ProShares Bitcoin ETF Price Performance

Shares of NYSEARCA BITO traded up $0.12 during mid-day trading on Tuesday, hitting $12.22. 51,450,465 shares of the company were exchanged, compared to its average volume of 14,649,157. The stock has a 50 day simple moving average of $14.72 and a 200-day simple moving average of $18.55. ProShares Bitcoin ETF has a 1-year low of $12.00 and a 1-year high of $26.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Interchange Capital Partners LLC raised its position in shares of ProShares Bitcoin ETF by 3.2% during the 2nd quarter. Interchange Capital Partners LLC now owns 14,658 shares of the company’s stock worth $315,000 after purchasing an additional 455 shares during the last quarter. ST Germain D J Co. Inc. increased its position in ProShares Bitcoin ETF by 55.4% during the third quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in shares of ProShares Bitcoin ETF by 43.7% in the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock worth $39,000 after acquiring an additional 548 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of ProShares Bitcoin ETF by 10.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,039 shares of the company’s stock valued at $111,000 after acquiring an additional 565 shares in the last quarter. Finally, Triumph Capital Management lifted its position in shares of ProShares Bitcoin ETF by 1.7% in the second quarter. Triumph Capital Management now owns 35,827 shares of the company’s stock valued at $771,000 after acquiring an additional 604 shares in the last quarter.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.