Short Interest in ProShares Short Ether ETF (NYSEARCA:SETH) Decreases By 85.0%

ProShares Short Ether ETF (NYSEARCA:SETH) saw a significant decrease in short interest in May. As of May 15th, there was short interest totaling 2,663 shares, a decrease of 85.0% from the April 30th total of 17,708 shares. Based on an average trading volume of 28,891 shares, the short-interest ratio is currently 0.1 days. Currently, 0.7% of the shares of the company are short sold.

ProShares Short Ether ETF Stock Performance

NYSEARCA SETH traded down $0.08 during trading hours on Friday, hitting $48.62. The company had a trading volume of 48,855 shares, compared to its average volume of 59,916. ProShares Short Ether ETF has a 1-year low of $29.20 and a 1-year high of $70.70. The business has a 50 day moving average of $45.53 and a 200-day moving average of $45.70.

Institutional Investors Weigh In On ProShares Short Ether ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new stake in shares of ProShares Short Ether ETF in the second quarter valued at about $1,847,000. Brookstone Capital Management purchased a new stake in shares of ProShares Short Ether ETF in the fourth quarter valued at about $628,000. Susquehanna International Group LLP purchased a new stake in shares of ProShares Short Ether ETF in the third quarter valued at about $96,000. Finally, Simplex Trading LLC raised its holdings in shares of ProShares Short Ether ETF by 535.1% in the fourth quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock valued at $67,000 after buying an additional 1,343 shares during the last quarter.

About ProShares Short Ether ETF

The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.