ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 53,163 shares, a decline of 35.2% from the May 31st total of 82,027 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,330,452 shares, the days-to-cover ratio is presently 0.0 days.
ProShares Ultra Short Bitcoin ETF Price Performance
NYSEARCA SBIT opened at $62.79 on Friday. ProShares Ultra Short Bitcoin ETF has a 1 year low of $23.60 and a 1 year high of $76.51. The business’s fifty day moving average is $52.00 and its two-hundred day moving average is $51.01.
Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF
A number of hedge funds have recently modified their holdings of SBIT. Client First Investment Management LLC purchased a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter valued at $4,278,000. IMC Chicago LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter valued at $1,182,000. Canton Hathaway LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter valued at $86,000. Simplex Trading LLC purchased a new position in ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $2,368,000. Finally, Jump Financial LLC increased its stake in ProShares Ultra Short Bitcoin ETF by 161.1% in the 4th quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock worth $1,189,000 after purchasing an additional 16,703 shares in the last quarter.
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.
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