Short Interest in ProShares Short Bitcoin ETF (NYSEARCA:BITI) Decreases By 25.7%

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 300,488 shares, a decline of 25.7% from the January 15th total of 404,180 shares. Based on an average trading volume of 2,159,315 shares, the short-interest ratio is presently 0.1 days. Approximately 5.7% of the shares of the company are sold short. Approximately 5.7% of the shares of the company are sold short. Based on an average trading volume of 2,159,315 shares, the short-interest ratio is presently 0.1 days.

ProShares Short Bitcoin ETF Trading Down 5.2%

Shares of NYSEARCA:BITI traded down $1.51 during trading on Monday, hitting $27.78. 3,046,166 shares of the stock were exchanged, compared to its average volume of 2,951,303. ProShares Short Bitcoin ETF has a 12-month low of $16.58 and a 12-month high of $30.93. The company has a market cap of $147.51 million, a PE ratio of -6.89 and a beta of -1.44. The company has a fifty day moving average price of $23.71 and a two-hundred day moving average price of $20.94.

ProShares Short Bitcoin ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.314 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 13.6%. This is an increase from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.04. ProShares Short Bitcoin ETF’s dividend payout ratio is -16.38%.

Hedge Funds Weigh In On ProShares Short Bitcoin ETF

Several large investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC acquired a new position in shares of ProShares Short Bitcoin ETF in the 4th quarter valued at about $767,000. Federation des caisses Desjardins du Quebec raised its holdings in 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 valued at $63,000 after buying an additional 2,500 shares during the period. HRT Financial LP acquired a new position in ProShares Short Bitcoin ETF during the fourth quarter valued at approximately $247,000. Renaissance Technologies LLC increased its position in shares of ProShares Short Bitcoin ETF by 87.8% in the fourth quarter. Renaissance Technologies LLC now owns 36,800 shares of the company’s stock worth $853,000 after acquiring an additional 17,200 shares in the last quarter. Finally, Sykon Capital LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the fourth quarter worth $209,000. 30.27% of the stock is currently owned by hedge funds and other institutional investors.

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.