ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Up 44.9% in October

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a large 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. Based on an average trading volume of 2,265,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 9.4% of the shares of the company are short sold. Approximately 9.4% of the shares of the company are short sold. Based on an average trading volume of 2,265,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of ProShares Short Bitcoin ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in ProShares Short Bitcoin ETF during the 1st quarter worth about $71,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProShares Short Bitcoin ETF by 136.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after buying an additional 8,700 shares during the period. Group One Trading LLC acquired a new position in shares of ProShares Short Bitcoin ETF in the 2nd quarter valued at about $207,000. XTX Topco Ltd acquired a new position in shares of ProShares Short Bitcoin ETF in the 2nd quarter valued at about $230,000. Finally, Jump Financial LLC acquired a new position in shares of ProShares Short Bitcoin ETF in the 1st quarter valued at about $452,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Stock Performance

Shares of BITI opened at $18.98 on Monday. The stock has a 50-day moving average of $18.53 and a two-hundred day moving average of $19.32. ProShares Short Bitcoin ETF has a one year low of $16.58 and a one year high of $34.90. The stock has a market cap of $85.79 million, a P/E ratio of -4.71 and a beta of -1.44.

About ProShares Short Bitcoin ETF

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.