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

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 221,350 shares, a decrease of 39.3% from the November 30th total of 364,440 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 3,024,174 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 3,024,174 shares, the short-interest ratio is currently 0.1 days. Currently, 4.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BITI. Group One Trading LLC acquired a new position in ProShares Short Bitcoin ETF during the 2nd quarter worth $207,000. XTX Topco Ltd bought a new stake in shares of ProShares Short Bitcoin ETF during the second quarter worth $230,000. Tower Research Capital LLC TRC raised its position in ProShares Short Bitcoin ETF by 136.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after buying an additional 8,700 shares during the last quarter. Jump Financial LLC bought a new stake in ProShares Short Bitcoin ETF during the 1st quarter worth about $452,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the 1st quarter valued at approximately $612,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Stock Down 0.3%

BITI traded down $0.06 during trading on Friday, reaching $23.16. 1,335,050 shares of the company’s stock were exchanged, compared to its average volume of 2,024,129. The company has a market capitalization of $104.68 million, a P/E ratio of -5.75 and a beta of -1.44. ProShares Short Bitcoin ETF has a fifty-two week low of $16.58 and a fifty-two week high of $28.23. The business has a 50 day moving average price of $21.60 and a 200 day moving average price of $19.66.

About ProShares Short Bitcoin ETF

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.