ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Sees Large Increase in Short Interest

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 189,349 shares, a growth of 101.0% from the September 15th total of 94,213 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average trading volume of 1,207,235 shares, the short-interest ratio is currently 0.2 days.

ProShares Ultra Short Bitcoin ETF Stock Performance

Shares of SBIT stock opened at $31.32 on Friday. The firm’s 50 day moving average price is $37.43 and its 200-day moving average price is $47.49. ProShares Ultra Short Bitcoin ETF has a one year low of $27.36 and a one year high of $76.51.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

A hedge fund recently raised its position in ProShares Ultra Short Bitcoin ETF stock. Group One Trading LLC raised its position in shares of ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) by 4,555.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,940 shares of the company’s stock after buying an additional 10,705 shares during the period. Group One Trading LLC owned about 0.26% of ProShares Ultra Short Bitcoin ETF worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

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.