Short Interest in ProShares Bitcoin ETF (NYSEARCA:BITO) Drops By 39.2%

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 13,036,900 shares, a decline of 39.2% from the January 29th total of 21,444,173 shares. Based on an average daily volume of 78,712,746 shares, the days-to-cover ratio is presently 0.2 days. Approximately 6.2% of the shares of the stock are sold short. Approximately 6.2% of the shares of the stock are sold short. Based on an average daily volume of 78,712,746 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Institutional investors have recently bought and sold shares of the business. ST Germain D J Co. Inc. lifted its holdings in shares of ProShares Bitcoin ETF by 55.4% in the 3rd quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the last quarter. Cerity Partners LLC increased its stake in ProShares Bitcoin ETF by 4.1% in the 2nd quarter. Cerity Partners LLC now owns 16,298 shares of the company’s stock worth $351,000 after buying an additional 635 shares during the period. Evolution Wealth Advisors LLC increased its stake in ProShares Bitcoin ETF by 4.3% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 19,800 shares of the company’s stock worth $426,000 after buying an additional 818 shares during the period. Lido Advisors LLC lifted its holdings in ProShares Bitcoin ETF by 8.9% during the 3rd quarter. Lido Advisors LLC now owns 10,673 shares of the company’s stock valued at $210,000 after buying an additional 874 shares in the last quarter. Finally, Founders Financial Securities LLC boosted its position in ProShares Bitcoin ETF by 8.0% in the 3rd quarter. Founders Financial Securities LLC now owns 12,543 shares of the company’s stock valued at $247,000 after buying an additional 924 shares during the period.

ProShares Bitcoin ETF Stock Performance

NYSEARCA BITO opened at $9.06 on Friday. ProShares Bitcoin ETF has a 1-year low of $8.61 and a 1-year high of $23.63. The business has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $15.39.

ProShares 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 $0.0097 dividend. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, February 2nd.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.