ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Update

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 404,180 shares, an increase of 112.0% from the December 31st total of 190,642 shares. Based on an average daily trading volume, of 2,286,443 shares, the days-to-cover ratio is presently 0.2 days. Currently, 8.6% of the company’s stock are short sold. Currently, 8.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,286,443 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares Short Bitcoin ETF

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of ProShares Short Bitcoin ETF in the 2nd quarter valued at $230,000. Group One Trading LLC bought a new position in shares of ProShares Short Bitcoin ETF during the second quarter valued at $207,000. Tower Research Capital LLC TRC lifted its holdings in ProShares Short Bitcoin ETF by 136.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock worth $297,000 after buying an additional 8,700 shares during the period. Advisory Services Network LLC acquired a new position in shares of ProShares Short Bitcoin ETF in the second quarter worth approximately $779,000. Finally, Brookstone Capital Management acquired a new position in shares of ProShares Short Bitcoin ETF in the 4th quarter worth approximately $673,000. Institutional investors own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Stock Up 0.3%

Shares of NYSEARCA BITI traded up $0.07 during midday trading on Friday, hitting $23.99. 2,980,807 shares of the company’s stock were exchanged, compared to its average volume of 2,222,208. ProShares Short Bitcoin ETF has a 12 month low of $16.58 and a 12 month high of $28.23. The company’s 50 day moving average price is $22.63 and its 200 day moving average price is $20.15. The firm has a market capitalization of $124.51 million, a PE ratio of -5.95 and a beta of -1.44.

ProShares Short Bitcoin ETF Company Profile

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.