ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Update

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 96,700 shares, an increase of 122.3% from the August 31st total of 43,500 shares. Based on an average trading volume of 1,363,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 1,363,000 shares, the days-to-cover ratio is presently 0.1 days.

ProShares Ultra Short Bitcoin ETF Stock Down 2.9%

NYSEARCA:SBIT opened at $25.04 on Monday. ProShares Ultra Short Bitcoin ETF has a 52 week low of $24.48 and a 52 week high of $183.65. The firm’s 50-day simple moving average is $29.61 and its 200 day simple moving average is $38.31.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

A hedge fund recently bought a new stake in ProShares Ultra Short Bitcoin ETF stock. Flow Traders U.S. LLC bought a new stake in ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 57,457 shares of the company’s stock, valued at approximately $753,000. Flow Traders U.S. LLC owned 1.00% of ProShares Ultra Short Bitcoin ETF as of its most recent SEC filing.

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.