Short Interest in ProShares Short Ether ETF (NYSEARCA:SETH) Expands By 965.5%

ProShares Short Ether ETF (NYSEARCA:SETH) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 17,708 shares, a growth of 965.5% from the April 15th total of 1,662 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average daily volume of 38,180 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On ProShares Short Ether ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of ProShares Short Ether ETF in the second quarter valued at about $1,847,000. Brookstone Capital Management acquired a new stake in shares of ProShares Short Ether ETF in the fourth quarter valued at about $628,000. Susquehanna International Group LLP acquired a new stake in shares of ProShares Short Ether ETF in the third quarter valued at about $96,000. Finally, Simplex Trading LLC increased its stake in shares of ProShares Short Ether ETF by 535.1% in the fourth quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock valued at $67,000 after buying an additional 1,343 shares during the period.

ProShares Short Ether ETF Price Performance

Shares of SETH stock opened at $42.07 on Tuesday. The stock has a 50-day moving average of $46.74 and a 200-day moving average of $44.81. ProShares Short Ether ETF has a 1-year low of $29.20 and a 1-year high of $70.70.

ProShares Short Ether ETF Company Profile

The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.