ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Up 67.4% in February

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 502,991 shares, a growth of 67.4% from the January 29th total of 300,488 shares. Currently, 9.5% of the shares of the stock are short sold. Based on an average trading volume of 4,411,121 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 4,411,121 shares, the short-interest ratio is currently 0.1 days. Currently, 9.5% of the shares of the stock are short sold.

ProShares Short Bitcoin ETF Stock Up 2.7%

Shares of NYSEARCA BITI traded up $0.77 during trading on Friday, hitting $28.88. The company had a trading volume of 1,892,546 shares, compared to its average volume of 2,811,743. The firm has a market capitalization of $153.35 million, a price-to-earnings ratio of -7.17 and a beta of -1.44. The stock has a fifty day simple moving average of $24.73 and a two-hundred day simple moving average of $21.57. ProShares Short Bitcoin ETF has a fifty-two week low of $16.58 and a fifty-two week high of $30.93.

ProShares Short Bitcoin ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 6th. Investors of record on Monday, February 2nd were issued a $0.314 dividend. This represents a c) annualized dividend and a yield of 13.0%. The ex-dividend date was Monday, February 2nd. This is a positive change from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.04. ProShares Short Bitcoin ETF’s payout ratio is presently -16.38%.

Hedge Funds Weigh In On ProShares Short Bitcoin ETF

A number of hedge funds have recently made changes to their positions in BITI. Federation des caisses Desjardins du Quebec boosted its stake in shares of ProShares Short Bitcoin ETF by 1,250.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,700 shares of the company’s stock worth $63,000 after acquiring an additional 2,500 shares during the last quarter. Simplex Trading LLC purchased a new position in ProShares Short Bitcoin ETF in the 4th quarter valued at $163,000. Jump Financial LLC acquired a new stake in ProShares Short Bitcoin ETF during the 4th quarter worth $200,000. Group One Trading LLC purchased a new stake in shares of ProShares Short Bitcoin ETF during the second quarter worth $207,000. Finally, Sykon Capital LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the fourth quarter valued at about $209,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Company Profile

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.