ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Short Interest Update

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 2,173,314 shares, a decline of 22.5% from the December 15th total of 2,803,355 shares. Approximately 8.1% of the company’s stock are sold short. Based on an average daily trading volume, of 4,154,737 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 4,154,737 shares, the days-to-cover ratio is presently 0.5 days. Approximately 8.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Q Fund Management Hong Kong Ltd acquired a new position in ProShares Ultra Bitcoin ETF during the second quarter worth approximately $15,380,000. NewEdge Advisors LLC grew its position in shares of ProShares Ultra Bitcoin ETF by 52.7% during the third quarter. NewEdge Advisors LLC now owns 66,510 shares of the company’s stock worth $3,551,000 after acquiring an additional 22,964 shares during the last quarter. Financial Management Professionals Inc. grew its position in shares of ProShares Ultra Bitcoin ETF by 2.4% during the second quarter. Financial Management Professionals Inc. now owns 63,881 shares of the company’s stock worth $3,306,000 after acquiring an additional 1,473 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of ProShares Ultra Bitcoin ETF by 11.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 33,836 shares of the company’s stock valued at $1,807,000 after acquiring an additional 3,591 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in ProShares Ultra Bitcoin ETF by 29.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 25,007 shares of the company’s stock valued at $1,294,000 after purchasing an additional 5,692 shares during the last quarter.

ProShares Ultra Bitcoin ETF Price Performance

NYSEARCA:BITU traded up $0.12 during midday trading on Friday, hitting $25.94. 5,191,325 shares of the company were exchanged, compared to its average volume of 4,976,366. ProShares Ultra Bitcoin ETF has a fifty-two week low of $21.55 and a fifty-two week high of $65.77. The company has a fifty day simple moving average of $28.48 and a 200 day simple moving average of $45.23.

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.