Investors Purchase High Volume of Put Options on ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT)

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the recipient of some unusual options trading activity on Friday. Investors acquired 5,442 put options on the company. This is an increase of 1,622% compared to the typical daily volume of 316 put options.

ProShares Ultra Short Bitcoin ETF Stock Down 6.1%

Shares of SBIT stock opened at $30.41 on Friday. ProShares Ultra Short Bitcoin ETF has a fifty-two week low of $23.60 and a fifty-two week high of $136.75. The firm’s 50 day moving average price is $29.63 and its two-hundred day moving average price is $33.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Flow Traders U.S. LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the first quarter worth $753,000. Global Trust Asset Management LLC lifted its position in shares of ProShares Ultra Short Bitcoin ETF by 400.0% during the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,200 shares in the last quarter. Hudson Capital Management LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the third quarter worth $317,000. Finally, Jump Financial LLC lifted its position in shares of ProShares Ultra Short Bitcoin ETF by 239.5% during the first quarter. Jump Financial LLC now owns 73,805 shares of the company’s stock worth $967,000 after purchasing an additional 52,067 shares in the last quarter.

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.