ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Down 39.3% in December

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 221,350 shares, a drop of 39.3% from the November 30th total of 364,440 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average daily trading volume, of 3,024,174 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 3,024,174 shares, the short-interest ratio is presently 0.1 days. Approximately 4.9% of the company’s shares are short sold.

ProShares Short Bitcoin ETF Stock Performance

ProShares Short Bitcoin ETF stock traded up $0.11 during trading hours on Monday, hitting $23.27. The company had a trading volume of 1,375,258 shares, compared to its average volume of 2,021,547. The firm has a market cap of $105.18 million, a P/E ratio of -5.77 and a beta of -1.44. The company has a 50-day moving average price of $21.60 and a two-hundred day moving average price of $19.66. ProShares Short Bitcoin ETF has a 1 year low of $16.58 and a 1 year high of $28.23.

Institutional Trading of ProShares Short Bitcoin ETF

Large investors have recently modified their holdings of the company. Jump Financial LLC bought a new stake in ProShares Short Bitcoin ETF during the 1st quarter valued at $452,000. CreativeOne Wealth LLC bought a new position in shares of ProShares Short Bitcoin ETF during the 1st quarter worth $612,000. Advisory Services Network LLC bought a new position in shares of ProShares Short Bitcoin ETF during the 2nd quarter worth $779,000. Tower Research Capital LLC TRC increased its stake in shares of ProShares Short Bitcoin ETF by 136.3% during the second quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after buying an additional 8,700 shares during the period. Finally, Group One Trading LLC bought a new stake in shares of ProShares Short Bitcoin ETF in the second quarter valued at about $207,000. Hedge funds and other institutional investors own 30.27% of the company’s stock.

About ProShares Short Bitcoin ETF

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.