ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Update

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 24,259,821 shares, a drop of 25.1% from the December 31st total of 32,406,785 shares. Currently, 12.1% of the shares of the company are short sold. Based on an average daily volume of 59,390,519 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 59,390,519 shares, the days-to-cover ratio is presently 0.4 days. Currently, 12.1% of the shares of the company are short sold.

ProShares Bitcoin ETF Stock Down 3.7%

Shares of ProShares Bitcoin ETF stock traded down $0.40 on Tuesday, hitting $10.39. The stock had a trading volume of 48,413,670 shares, compared to its average volume of 61,746,344. ProShares Bitcoin ETF has a 52-week low of $10.46 and a 52-week high of $23.63. The company’s 50 day moving average price is $12.82 and its 200 day moving average price is $16.97.

ProShares Bitcoin ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, February 2nd will be paid a $0.0097 dividend. The ex-dividend date is Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 1.1%.

Hedge Funds Weigh In On ProShares Bitcoin ETF

A number of institutional investors have recently modified their holdings of BITO. B. Riley Wealth Advisors Inc. purchased a new stake in ProShares Bitcoin ETF during the 2nd quarter valued at approximately $991,000. Acorns Advisers LLC raised its stake in shares of ProShares Bitcoin ETF by 7.0% during the second quarter. Acorns Advisers LLC now owns 3,928,302 shares of the company’s stock worth $84,498,000 after purchasing an additional 258,155 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of ProShares Bitcoin ETF by 23.8% during the second quarter. Wedbush Securities Inc. now owns 35,260 shares of the company’s stock worth $758,000 after purchasing an additional 6,786 shares during the period. Wealth Management Nebraska lifted its holdings in shares of ProShares Bitcoin ETF by 16.3% during the second quarter. Wealth Management Nebraska now owns 19,335 shares of the company’s stock worth $413,000 after purchasing an additional 2,708 shares during the period. Finally, Realta Investment Advisors grew its position in ProShares Bitcoin ETF by 47.6% in the 2nd quarter. Realta Investment Advisors now owns 213,521 shares of the company’s stock valued at $4,593,000 after buying an additional 68,849 shares during the last quarter.

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.