ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Sees Significant Increase in Short Interest

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,808,928 shares, an increase of 29.2% from the December 31st total of 2,173,314 shares. Based on an average daily volume of 4,955,333 shares, the days-to-cover ratio is presently 0.6 days. Currently, 10.6% of the company’s shares are sold short. Currently, 10.6% of the company’s shares are sold short. Based on an average daily volume of 4,955,333 shares, the days-to-cover ratio is presently 0.6 days.

ProShares Ultra Bitcoin ETF Stock Performance

ProShares Ultra Bitcoin ETF stock traded down $1.16 during trading on Tuesday, hitting $15.65. The company’s stock had a trading volume of 6,469,184 shares, compared to its average volume of 5,655,566. The stock’s fifty day moving average is $25.73 and its 200 day moving average is $42.41. ProShares Ultra Bitcoin ETF has a 1-year low of $15.86 and a 1-year high of $65.77.

ProShares Ultra Bitcoin ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 6th. Stockholders of record on Monday, February 2nd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%.

Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF

Several hedge funds have recently modified their holdings of BITU. CWM LLC increased its position in ProShares Ultra Bitcoin ETF by 1,300.0% during the third quarter. CWM LLC now owns 756 shares of the company’s stock worth $40,000 after purchasing an additional 702 shares during the last quarter. Winnow Wealth LLC purchased a new stake in shares of ProShares Ultra Bitcoin ETF during the 3rd quarter valued at $62,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of ProShares Ultra Bitcoin ETF during the 4th quarter valued at $107,000. Advisory Services Network LLC acquired a new stake in shares of ProShares Ultra Bitcoin ETF during the 3rd quarter worth $111,000. Finally, Spire Wealth Management raised its position 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 worth $224,000 after buying an additional 3,335 shares during the period.

About ProShares Ultra Bitcoin ETF

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.