ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Down 39.2% in February

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 13,036,900 shares, a decline of 39.2% from the January 29th total of 21,444,173 shares. Currently, 6.2% of the company’s shares are short sold. Based on an average daily volume of 78,712,746 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 78,712,746 shares, the short-interest ratio is currently 0.2 days. Currently, 6.2% of the company’s shares are short sold.

ProShares Bitcoin ETF Trading Down 2.8%

Shares of ProShares Bitcoin ETF stock opened at $9.06 on Friday. The firm’s 50-day moving average is $11.31 and its two-hundred day moving average is $15.39. ProShares Bitcoin ETF has a 1 year low of $8.61 and a 1 year high of $23.63.

ProShares Bitcoin ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 6th. Investors of record on Monday, February 2nd were given a dividend of $0.0097 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 1.3%.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Several institutional investors and hedge funds have recently modified their holdings of BITO. Goldman Sachs Group Inc. boosted its position in ProShares Bitcoin ETF by 120.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock worth $82,224,000 after purchasing an additional 3,700,000 shares in the last quarter. Acorns Advisers LLC boosted its holdings in ProShares Bitcoin ETF by 37.1% during the fourth quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after buying an additional 1,698,373 shares in the last quarter. Tidal Investments LLC increased its holdings in ProShares Bitcoin ETF by 139.3% in the third quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock valued at $17,165,000 after buying an additional 530,987 shares in the last quarter. RK Capital Management LLC FL increased its holdings in ProShares Bitcoin ETF by 374.5% in the second quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock valued at $17,931,000 after buying an additional 657,910 shares in the last quarter. Finally, Faithward Advisors LLC raised its position in shares of ProShares Bitcoin ETF by 3.0% in the second quarter. Faithward Advisors LLC now owns 785,517 shares of the company’s stock worth $16,896,000 after acquiring an additional 23,237 shares during the period.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.