ProShares Short Bitcoin ETF (NYSEARCA:BITI) Sees Significant Increase in Short Interest

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 385,700 shares, an increase of 44.9% from the September 30th total of 266,200 shares. Based on an average daily trading volume, of 2,265,000 shares, the short-interest ratio is presently 0.2 days. Approximately 9.4% of the shares of the stock are short sold. Approximately 9.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,265,000 shares, the short-interest ratio is presently 0.2 days.

ProShares Short Bitcoin ETF Trading Up 5.5%

BITI stock opened at $20.60 on Wednesday. ProShares Short Bitcoin ETF has a 12-month low of $16.58 and a 12-month high of $34.08. The stock has a market cap of $93.11 million, a price-to-earnings ratio of -5.11 and a beta of -1.44. The business’s 50-day moving average is $18.58 and its 200 day moving average is $19.25.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in shares of ProShares Short Bitcoin ETF during the 1st quarter worth approximately $71,000. Group One Trading LLC purchased a new position in shares of ProShares Short Bitcoin ETF during the 2nd quarter worth $207,000. XTX Topco Ltd acquired a new position in shares of ProShares Short Bitcoin ETF during the 2nd quarter valued at about $230,000. Tower Research Capital LLC TRC grew its holdings in shares of ProShares Short Bitcoin ETF by 136.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after purchasing an additional 8,700 shares during the period. Finally, Jump Financial LLC acquired a new stake in ProShares Short Bitcoin ETF during the first quarter worth about $452,000. 30.27% of the stock is currently owned by institutional investors and hedge funds.

About ProShares Short Bitcoin ETF

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.