ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Down 58.3% in February

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 72,241 shares, a decline of 58.3% from the February 12th total of 173,421 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 1,488,942 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 1,488,942 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.4% of the company’s stock are short sold.

ProShares Ultra Short Bitcoin ETF Trading Down 2.9%

SBIT stock opened at $54.38 on Wednesday. ProShares Ultra Short Bitcoin ETF has a fifty-two week low of $23.60 and a fifty-two week high of $76.51. The business’s 50 day moving average price is $51.31 and its two-hundred day moving average price is $40.73.

ProShares Ultra Short Bitcoin ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were given a dividend of $1.1096 per share. This is a boost from ProShares Ultra Short Bitcoin ETF’s previous monthly dividend of $0.34. This represents a c) annualized dividend and a dividend yield of 24.5%. The ex-dividend date was Monday, March 2nd.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at $1,182,000. StoneX Group Inc. bought a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $226,000. Simplex Trading LLC bought a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $2,368,000. Jump Financial LLC lifted its position in ProShares Ultra Short Bitcoin ETF by 161.1% during the 4th quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock valued at $1,189,000 after acquiring an additional 16,703 shares during the period. Finally, XTX Topco Ltd purchased a new position in ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at about $247,000.

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.