ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Up 67.4% in February

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 502,991 shares, a growth of 67.4% from the January 29th total of 300,488 shares. Approximately 9.5% of the shares of the company are sold short. Based on an average daily volume of 4,411,121 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 4,411,121 shares, the days-to-cover ratio is currently 0.1 days. Approximately 9.5% of the shares of the company are sold short.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

Several hedge funds have recently modified their holdings of the company. Brookstone Capital Management acquired a new position in ProShares Short Bitcoin ETF in the 4th quarter worth about $673,000. Quadrature Capital Ltd purchased a new stake in shares of ProShares Short Bitcoin ETF in the fourth quarter valued at approximately $2,505,000. Jump Financial LLC acquired a new position in shares of ProShares Short Bitcoin ETF during the 4th quarter worth approximately $200,000. SIH Partners LLLP purchased a new position in shares of ProShares Short Bitcoin ETF during the 4th quarter valued at approximately $895,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of ProShares Short Bitcoin ETF during the 4th quarter valued at approximately $767,000. 30.27% of the stock is owned by hedge funds and other institutional investors.

ProShares Short Bitcoin ETF Stock Up 2.7%

Shares of NYSEARCA:BITI traded up $0.77 during trading on Friday, hitting $28.88. 1,892,546 shares of the stock traded hands, compared to its average volume of 2,811,743. The company has a fifty day moving average price of $24.73 and a two-hundred day moving average price of $21.57. ProShares Short Bitcoin ETF has a 52-week low of $16.58 and a 52-week high of $30.93. The company has a market cap of $153.35 million, a price-to-earnings ratio of -7.17 and a beta of -1.44.

ProShares Short Bitcoin ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, February 2nd were issued a $0.314 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a yield of 13.0%. ProShares Short Bitcoin ETF’s dividend payout ratio is presently -16.38%.

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.