ProShares Short Bitcoin ETF (NYSEARCA:BITI) Sees Large Growth in Short Interest

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 404,180 shares, an increase of 112.0% from the December 31st total of 190,642 shares. Based on an average trading volume of 2,286,443 shares, the short-interest ratio is currently 0.2 days. Approximately 8.6% of the company’s stock are sold short. Approximately 8.6% of the company’s stock are sold short. Based on an average trading volume of 2,286,443 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BITI. Group One Trading LLC bought a new stake in ProShares Short Bitcoin ETF in the 2nd quarter valued at approximately $207,000. XTX Topco Ltd bought a new position in shares of ProShares Short Bitcoin ETF during the 2nd quarter worth approximately $230,000. Tower Research Capital LLC TRC raised 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 last quarter. Brookstone Capital Management bought a new stake in shares of ProShares Short Bitcoin ETF in the fourth quarter worth $673,000. Finally, Advisory Services Network LLC bought a new stake in shares of ProShares Short Bitcoin ETF in the second quarter worth $779,000. 30.27% of the stock is currently owned by institutional investors.

ProShares Short Bitcoin ETF Trading Up 0.3%

Shares of NYSEARCA BITI opened at $23.99 on Friday. The firm has a market cap of $124.51 million, a PE ratio of -5.95 and a beta of -1.44. ProShares Short Bitcoin ETF has a 1-year low of $16.58 and a 1-year high of $28.23. The company has a fifty day moving average price of $22.63 and a 200 day moving average price of $20.17.

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.