ProShares Short Bitcoin ETF (NYSEARCA:BITI) Shares Down 1.7% – Time to Sell?

ProShares Short Bitcoin ETF (NYSEARCA:BITI) shares fell 1.7% on Wednesday . The company traded as low as $23.89 and last traded at $24.11. 2,241,851 shares were traded during mid-day trading, an increase of 37% from the average session volume of 1,638,859 shares. The stock had previously closed at $24.53.

ProShares Short Bitcoin ETF Trading Down 1.7 %

The stock has a 50-day moving average price of $34.70 and a 200 day moving average price of $37.95.

Institutional Trading of ProShares Short Bitcoin ETF

Several hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. increased its position in shares of ProShares Short Bitcoin ETF by 95.3% in the third quarter. Brown Brothers Harriman & Co. now owns 24,653 shares of the company’s stock valued at $184,000 after buying an additional 12,027 shares in the last quarter. Headlands Technologies LLC increased its holdings in ProShares Short Bitcoin ETF by 2,694.5% during the 2nd quarter. Headlands Technologies LLC now owns 36,748 shares of the company’s stock valued at $311,000 after acquiring an additional 35,433 shares in the last quarter. Finally, AFG Fiduciary Services Limited Partnership raised its position in ProShares Short Bitcoin ETF by 47.7% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 252,794 shares of the company’s stock worth $2,139,000 after acquiring an additional 81,643 shares during the last quarter.

ProShares Short Bitcoin ETF Company Profile

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.