ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Update

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 23,490,727 shares, a decline of 21.5% from the November 30th total of 29,906,187 shares. Approximately 15.4% of the shares of the company are sold short. Based on an average daily trading volume, of 41,026,744 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 41,026,744 shares, the short-interest ratio is presently 0.6 days. Approximately 15.4% of the shares of the company are sold short.

ProShares Bitcoin ETF Price Performance

Shares of BITO stock traded up $0.12 during trading hours on Tuesday, hitting $12.22. The stock had a trading volume of 51,450,465 shares, compared to its average volume of 14,649,157. The stock’s 50 day moving average is $14.72 and its 200 day moving average is $18.55. ProShares Bitcoin ETF has a twelve month low of $12.00 and a twelve month high of $26.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Transatlantique SA acquired a new position in ProShares Bitcoin ETF in the first quarter valued at $769,000. Integrated Wealth Concepts LLC grew its holdings in shares of ProShares Bitcoin ETF by 6.1% during the first quarter. Integrated Wealth Concepts LLC now owns 23,289 shares of the company’s stock worth $427,000 after buying an additional 1,339 shares during the last quarter. NewEdge Advisors LLC increased its position in ProShares Bitcoin ETF by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 134,427 shares of the company’s stock valued at $2,463,000 after acquiring an additional 25,064 shares during the period. Goldman Sachs Group Inc. increased its position in ProShares Bitcoin ETF by 152.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,168,833 shares of the company’s stock valued at $149,653,000 after acquiring an additional 4,939,205 shares during the period. Finally, McIlrath & Eck LLC raised its stake in ProShares Bitcoin ETF by 2,260.3% during the 1st quarter. McIlrath & Eck LLC now owns 10,952 shares of the company’s stock valued at $201,000 after acquiring an additional 10,488 shares during the last quarter.

About ProShares Bitcoin ETF

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.