ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Up 28.3% in March

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 23,338,345 shares, an increase of 28.3% from the February 26th total of 18,191,389 shares. Based on an average daily volume of 122,208,205 shares, the short-interest ratio is currently 0.2 days. Currently, 11.0% of the shares of the stock are sold short.

ProShares Bitcoin ETF Trading Up 1.7%

NYSEARCA BITO opened at $9.31 on Wednesday. The company’s 50 day simple moving average is $9.98 and its 200 day simple moving average is $13.69. ProShares Bitcoin ETF has a 12 month low of $8.61 and a 12 month high of $23.63.

ProShares Bitcoin ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were given a $0.0143 dividend. This represents a c) annualized dividend and a yield of 1.8%. This is a positive change from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On ProShares Bitcoin ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kelleher Financial Advisors bought a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter worth $26,000. Barclays PLC raised its position in shares of ProShares Bitcoin ETF by 210,000.0% during the fourth quarter. Barclays PLC now owns 2,101 shares of the company’s stock worth $26,000 after purchasing an additional 2,100 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of ProShares Bitcoin ETF during the second quarter worth $28,000. ST Germain D J Co. Inc. lifted its holdings in shares of ProShares Bitcoin ETF by 55.4% during the third quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Finally, Caitlin John LLC acquired a new position in shares of ProShares Bitcoin ETF in the 3rd quarter valued at $29,000.

ProShares Bitcoin ETF Company Profile

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.