ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Up 28.3% in March

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 23,338,345 shares, an increase of 28.3% from the February 26th total of 18,191,389 shares. Based on an average daily volume of 122,208,205 shares, the days-to-cover ratio is presently 0.2 days. Approximately 11.0% of the company’s stock are sold short.

ProShares Bitcoin ETF Stock Performance

Shares of BITO stock opened at $9.07 on Monday. The company has a 50 day moving average price of $10.13 and a 200 day moving average price of $13.84. ProShares Bitcoin ETF has a fifty-two week low of $8.61 and a fifty-two week high of $23.63.

ProShares Bitcoin ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were given a $0.0143 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) annualized dividend and a yield of 1.9%. This is a boost from ProShares Bitcoin ETF’s previous monthly dividend of $0.01.

Institutional Trading of ProShares Bitcoin ETF

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of ProShares Bitcoin ETF by 120.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock valued at $82,224,000 after acquiring an additional 3,700,000 shares in the last quarter. Acorns Advisers LLC grew its stake in ProShares Bitcoin ETF by 37.1% during the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after purchasing an additional 1,698,373 shares in the last quarter. Tidal Investments LLC increased its holdings in ProShares Bitcoin ETF by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after purchasing an additional 530,987 shares during the period. Group One Trading LLC purchased a new stake in ProShares Bitcoin ETF during the 4th quarter worth about $4,903,000. Finally, HighTower Advisors LLC raised its position in ProShares Bitcoin ETF by 1,197.5% in the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock valued at $4,817,000 after purchasing an additional 365,596 shares in the last quarter.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.