Short Interest in ProShares Bitcoin ETF (NYSEARCA:BITO) Drops By 25.1%

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 24,259,821 shares, a drop of 25.1% from the December 31st total of 32,406,785 shares. Based on an average daily volume of 59,390,519 shares, the days-to-cover ratio is currently 0.4 days. Currently, 12.1% of the shares of the company are short sold. Currently, 12.1% of the shares of the company are short sold. Based on an average daily volume of 59,390,519 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BITO. Integrated Wealth Concepts LLC increased its position in shares of ProShares Bitcoin ETF by 6.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 23,289 shares of the company’s stock valued at $427,000 after purchasing an additional 1,339 shares during the last quarter. Realta Investment Advisors grew its position in ProShares Bitcoin ETF by 47.6% during the second quarter. Realta Investment Advisors now owns 213,521 shares of the company’s stock valued at $4,593,000 after buying an additional 68,849 shares during the period. Cedar Mountain Advisors LLC increased its holdings in ProShares Bitcoin ETF by 43.7% during the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after buying an additional 548 shares during the last quarter. Wealth Management Nebraska increased its holdings in ProShares Bitcoin ETF by 16.3% during the second quarter. Wealth Management Nebraska now owns 19,335 shares of the company’s stock valued at $413,000 after buying an additional 2,708 shares during the last quarter. Finally, Blair William & Co. IL raised its position in ProShares Bitcoin ETF by 9.0% in the second quarter. Blair William & Co. IL now owns 10,112 shares of the company’s stock worth $218,000 after acquiring an additional 832 shares during the period.

ProShares Bitcoin ETF Price Performance

BITO traded down $0.81 during mid-day trading on Monday, reaching $10.79. 80,799,485 shares of the company traded hands, compared to its average volume of 62,626,512. The company’s fifty day moving average price is $12.82 and its 200-day moving average price is $16.97. ProShares Bitcoin ETF has a 52-week low of $10.74 and a 52-week high of $23.83.

ProShares Bitcoin ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 6th. Investors of record on Monday, February 2nd will be given a dividend of $0.0097 per share. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is 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.