ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 143,325 shares, a decline of 29.0% from the December 31st total of 201,786 shares. Based on an average trading volume of 2,337,363 shares, the short-interest ratio is presently 0.1 days. Currently, 4.8% of the company’s shares are sold short. Currently, 4.8% of the company’s shares are sold short. Based on an average trading volume of 2,337,363 shares, the short-interest ratio is presently 0.1 days.
ProShares Ultra Short Bitcoin ETF Trading Up 0.7%
Shares of ProShares Ultra Short Bitcoin ETF stock opened at $46.25 on Friday. ProShares Ultra Short Bitcoin ETF has a 52 week low of $23.60 and a 52 week high of $76.55. The firm has a fifty day moving average of $41.86 and a two-hundred day moving average of $34.61.
Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBIT. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the 4th quarter worth about $1,182,000. Hudson Capital Management LLC acquired a new position in ProShares Ultra Short Bitcoin ETF during the third quarter valued at approximately $317,000. Canton Hathaway LLC acquired a new position in ProShares Ultra Short Bitcoin ETF during the fourth quarter valued at approximately $86,000. Finally, Global Trust Asset Management LLC increased its stake in ProShares Ultra Short Bitcoin ETF by 400.0% in the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,200 shares in the last quarter.
About ProShares Ultra Short Bitcoin ETF
The ProShares UltraShort Bitcoin ETF (SBIT) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks -2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.
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