ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Update

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 385,700 shares, an increase of 44.9% from the September 30th total of 266,200 shares. Approximately 9.4% of the company’s shares are sold short. Based on an average trading volume of 2,265,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 2,265,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 9.4% of the company’s shares are sold short.

ProShares Short Bitcoin ETF Stock Up 3.6%

Shares of ProShares Short Bitcoin ETF stock traded up $0.70 during trading on Tuesday, hitting $20.22. 1,803,742 shares of the stock traded hands, compared to its average volume of 1,835,990. ProShares Short Bitcoin ETF has a 52 week low of $16.58 and a 52 week high of $34.08. The firm’s fifty day moving average is $18.54 and its 200-day moving average is $19.28. The stock has a market cap of $91.37 million, a price-to-earnings ratio of -5.01 and a beta of -1.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc bought a new position in ProShares Short Bitcoin ETF in the first quarter worth approximately $71,000. Group One Trading LLC bought a new stake in ProShares Short Bitcoin ETF during the 2nd quarter valued at $207,000. XTX Topco Ltd bought a new stake in ProShares Short Bitcoin ETF during the 2nd quarter valued at $230,000. Tower Research Capital LLC TRC boosted its position in ProShares Short Bitcoin ETF by 136.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in ProShares Short Bitcoin ETF during the 1st quarter valued at $452,000. Institutional investors 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.