ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 177,036 shares, a growth of 153.4% from the June 30th total of 69,877 shares. Based on an average daily trading volume, of 663,264 shares, the short-interest ratio is currently 0.3 days. Currently, 6.2% of the company’s shares are sold short.
Institutional Investors Weigh In On ProShares Ultra Short Bitcoin ETF
Hedge funds have recently modified their holdings of the business. Canton Hathaway LLC bought a new stake in ProShares Ultra Short Bitcoin ETF during the 4th quarter worth approximately $86,000. IMC Chicago LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $1,182,000. Client First Investment Management LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $4,278,000. Simplex Trading LLC acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $2,368,000. Finally, StoneX Group Inc. acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $226,000.
ProShares Ultra Short Bitcoin ETF Stock Performance
ProShares Ultra Short Bitcoin ETF stock traded up $1.94 during mid-day trading on Tuesday, hitting $57.55. 457,666 shares of the company’s stock were exchanged, compared to its average volume of 1,486,017. ProShares Ultra Short Bitcoin ETF has a fifty-two week low of $23.60 and a fifty-two week high of $76.51. The company’s 50 day simple moving average is $57.42 and its 200-day simple moving average is $52.72.
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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