Short Interest in ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Rises By 64.4%

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 4,617,138 shares, an increase of 64.4% from the January 15th total of 2,808,928 shares. Approximately 16.5% of the shares of the company are short sold. Based on an average trading volume of 5,352,189 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 5,352,189 shares, the short-interest ratio is currently 0.9 days. Approximately 16.5% of the shares of the company are short sold.

ProShares Ultra Bitcoin ETF Stock Performance

Shares of NYSEARCA BITU traded up $1.16 during trading hours on Friday, reaching $12.54. The stock had a trading volume of 7,239,212 shares, compared to its average volume of 6,540,323. ProShares Ultra Bitcoin ETF has a twelve month low of $10.58 and a twelve month high of $65.77. The business’s fifty day moving average is $22.63 and its two-hundred day moving average is $39.52.

ProShares Ultra Bitcoin ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 6th. Investors of record on Monday, February 2nd were given a $0.03 dividend. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF

A number of institutional investors have recently added to or reduced their stakes in BITU. CWM LLC raised its holdings in shares of ProShares Ultra Bitcoin ETF by 1,300.0% in the 3rd quarter. CWM LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 702 shares in the last quarter. Winnow Wealth LLC acquired a new position in ProShares Ultra Bitcoin ETF during the third quarter worth $62,000. Group One Trading LLC acquired a new position in ProShares Ultra Bitcoin ETF during the fourth quarter worth $39,000. Advisory Services Network LLC bought a new position in shares of ProShares Ultra Bitcoin ETF during the third quarter valued at $111,000. Finally, Spire Wealth Management boosted its stake in shares of ProShares Ultra Bitcoin ETF by 333.5% in the 2nd quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock valued at $224,000 after purchasing an additional 3,335 shares in the last quarter.

ProShares Ultra Bitcoin ETF Company Profile

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.