ProShares Short Bitcoin ETF (NYSEARCA:BITI) Trading Up 1.9% – Here’s Why

Shares of ProShares Short Bitcoin ETF (NYSEARCA:BITI) were up 1.9% during trading on Thursday . The stock traded as high as $19.88 and last traded at $19.81. Approximately 1,054,925 shares traded hands during trading, a decline of 41% from the average daily volume of 1,777,242 shares. The stock had previously closed at $19.45.

ProShares Short Bitcoin ETF Stock Performance

The company’s 50-day moving average is $21.96 and its 200 day moving average is $23.12.

Institutional Trading of ProShares Short Bitcoin ETF

Several institutional investors have recently bought and sold shares of the company. CreativeOne Wealth LLC purchased a new stake in shares of ProShares Short Bitcoin ETF during the 1st quarter valued at about $612,000. Jump Financial LLC purchased a new stake in shares of ProShares Short Bitcoin ETF during the 1st quarter valued at about $452,000. IFP Advisors Inc purchased a new stake in shares of ProShares Short Bitcoin ETF during the 1st quarter valued at about $71,000. Guardian Wealth Advisors LLC NC purchased a new stake in shares of ProShares Short Bitcoin ETF during the 4th quarter valued at about $1,634,000. Finally, Two Sigma Securities LLC boosted its holdings in shares of ProShares Short Bitcoin ETF by 54.2% during the 4th quarter. Two Sigma Securities LLC now owns 22,934 shares of the company’s stock valued at $550,000 after acquiring an additional 8,058 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.