Short Interest in ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Decreases By 35.2%

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 53,163 shares, a decline of 35.2% from the May 31st total of 82,027 shares. Based on an average trading volume of 1,330,452 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.3% of the company’s stock are sold short.

ProShares Ultra Short Bitcoin ETF Price Performance

Shares of SBIT opened at $66.06 on Thursday. ProShares Ultra Short Bitcoin ETF has a one year low of $23.60 and a one year high of $76.51. The stock has a 50-day moving average price of $51.22 and a 200 day moving average price of $50.78.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

Several institutional investors and hedge funds have recently bought and sold shares of SBIT. Client First Investment Management LLC acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at approximately $4,278,000. IMC Chicago LLC acquired a new position in ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at about $1,182,000. Canton Hathaway LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth approximately $86,000. Simplex Trading LLC bought a new position in shares of ProShares Ultra Short Bitcoin ETF in the fourth quarter worth $2,368,000. Finally, Jump Financial LLC grew its position in 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 buying an additional 16,703 shares in the last quarter.

About ProShares Ultra Short Bitcoin ETF

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.