ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Short Interest Up 29.2% in January

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 2,808,928 shares, an increase of 29.2% from the December 31st total of 2,173,314 shares. Currently, 10.6% of the company’s stock are short sold. Based on an average daily trading volume, of 4,955,333 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 4,955,333 shares, the days-to-cover ratio is presently 0.6 days. Currently, 10.6% of the company’s stock are short sold.

ProShares Ultra Bitcoin ETF Trading Down 14.5%

NYSEARCA:BITU traded down $2.86 during mid-day trading on Monday, reaching $16.81. The stock had a trading volume of 15,516,533 shares, compared to its average volume of 5,646,948. The business’s 50 day moving average is $25.73 and its 200 day moving average is $42.41. ProShares Ultra Bitcoin ETF has a fifty-two week low of $16.72 and a fifty-two week high of $65.77.

ProShares Ultra Bitcoin ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 6th. Stockholders of record on Monday, February 2nd will be paid a dividend of $0.03 per share. The ex-dividend date is Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 2.1%.

Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF

Several institutional investors and hedge funds have recently modified their holdings of BITU. CWM LLC increased its position in ProShares Ultra Bitcoin ETF by 1,300.0% during the third quarter. CWM LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 702 shares during the last quarter. Winnow Wealth LLC acquired a new stake in shares of ProShares Ultra Bitcoin ETF in the third quarter worth about $62,000. Advisory Services Network LLC bought a new stake in shares of ProShares Ultra Bitcoin ETF during the 3rd quarter worth about $111,000. Spire Wealth Management increased its holdings in shares of ProShares Ultra Bitcoin ETF by 333.5% during the 2nd quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock valued at $224,000 after acquiring an additional 3,335 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of ProShares Ultra Bitcoin ETF during the 4th quarter valued at about $107,000.

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.