ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Update

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 127,956 shares, an increase of 92.5% from the March 15th total of 66,483 shares. Based on an average daily trading volume, of 1,406,924 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.3% of the shares of the stock are short sold.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Trust Asset Management LLC lifted its position in shares of ProShares Ultra Short Bitcoin ETF by 400.0% during the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,200 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $86,000. StoneX Group Inc. bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $226,000. XTX Topco Ltd bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $247,000. Finally, Hudson Capital Management LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the third quarter worth $317,000.

ProShares Ultra Short Bitcoin ETF Price Performance

Shares of SBIT opened at $48.12 on Monday. The company has a 50 day simple moving average of $57.45 and a two-hundred day simple moving average of $44.52. ProShares Ultra Short Bitcoin ETF has a 1 year low of $23.60 and a 1 year high of $76.51.

ProShares Ultra Short Bitcoin ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were issued a $1.1096 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 27.7%. This is a boost from ProShares Ultra Short Bitcoin ETF’s previous monthly dividend of $0.34. The ex-dividend date of this dividend was Monday, March 2nd.

About ProShares Ultra Short Bitcoin ETF

The ProShares UltraShort Bitcoin ETF (SBIT) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks -2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.