ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Sees Large Decline in Short Interest

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 143,325 shares, a drop of 29.0% from the December 31st total of 201,786 shares. Based on an average trading volume of 2,337,363 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.8% of the shares of the stock are sold short. Currently, 4.8% of the shares of the stock are sold short. Based on an average trading volume of 2,337,363 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On ProShares Ultra Short Bitcoin ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Trust Asset Management LLC grew its position in ProShares Ultra Short Bitcoin ETF by 400.0% during the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,200 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth about $86,000. Hudson Capital Management LLC bought a new position in shares of ProShares Ultra Short Bitcoin ETF in the third quarter worth approximately $317,000. Finally, IMC Chicago LLC bought a new position in shares of ProShares Ultra Short Bitcoin ETF in the fourth quarter worth approximately $1,182,000.

ProShares Ultra Short Bitcoin ETF Stock Performance

ProShares Ultra Short Bitcoin ETF stock traded up $6.07 during midday trading on Monday, reaching $52.32. 2,258,816 shares of the stock were exchanged, compared to its average volume of 2,563,407. The company’s fifty day moving average is $42.03 and its 200-day moving average is $34.87. ProShares Ultra Short Bitcoin ETF has a 52 week low of $23.60 and a 52 week high of $76.55.

ProShares Ultra Short Bitcoin ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 6th. Stockholders of record on Monday, February 2nd will be given a dividend of $0.3408 per share. This is an increase from ProShares Ultra Short Bitcoin ETF’s previous monthly dividend of $0.01. The ex-dividend date is Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%.

ProShares Ultra Short Bitcoin ETF Company Profile

The ProShares UltraShort Bitcoin ETF (SBIT) 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 inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.