ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Up 153.4% in July

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 177,036 shares, a growth of 153.4% from the June 30th total of 69,877 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 663,264 shares, the short-interest ratio is presently 0.3 days.

ProShares Ultra Short Bitcoin ETF Price Performance

Shares of NYSEARCA SBIT traded up $0.54 during midday trading on Wednesday, hitting $58.09. 646,816 shares of the company’s stock were exchanged, compared to its average volume of 1,480,164. ProShares Ultra Short Bitcoin ETF has a twelve month low of $23.60 and a twelve month high of $76.51. The firm’s fifty day simple moving average is $57.42 and its 200-day simple moving average is $52.72.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBIT. Group One Trading LLC boosted its stake in ProShares Ultra Short Bitcoin ETF by 4,555.3% in the first quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock valued at $623,000 after acquiring an additional 10,705 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth about $247,000. Jump Financial LLC lifted its holdings in shares of ProShares Ultra Short Bitcoin ETF by 161.1% in the 4th quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock valued at $1,189,000 after purchasing an additional 16,703 shares during the last quarter. StoneX Group Inc. acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter valued at about $226,000. Finally, Simplex Trading LLC purchased a new position in ProShares Ultra Short Bitcoin ETF during the 4th quarter worth approximately $2,368,000.

ProShares Ultra Short Bitcoin ETF Company Profile

The ProShares UltraShort Bitcoin ETF (SBIT) 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 inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.