Short Interest in ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Decreases By 29.0%

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 143,325 shares, a drop of 29.0% from the December 31st total of 201,786 shares. Based on an average daily volume of 2,337,363 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.8% of the company’s stock are sold short. Currently, 4.8% of the company’s stock are sold short. Based on an average daily volume of 2,337,363 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

Hedge funds have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter worth $1,182,000. Canton Hathaway LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter valued at $86,000. Global Trust Asset Management LLC grew its position in shares of ProShares Ultra Short Bitcoin ETF by 400.0% during the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Hudson Capital Management LLC acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF in the 3rd quarter worth about $317,000.

ProShares Ultra Short Bitcoin ETF Trading Up 0.7%

NYSEARCA SBIT traded up $0.32 during trading hours on Friday, reaching $46.25. 2,428,533 shares of the company traded hands, compared to its average volume of 2,577,652. ProShares Ultra Short Bitcoin ETF has a 12 month low of $23.60 and a 12 month high of $76.55. The company has a 50 day moving average of $41.86 and a two-hundred day moving average of $34.65.

ProShares Ultra Short Bitcoin ETF Company Profile

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.