Short Interest in ProShares Bitcoin ETF (NYSEARCA:BITO) Rises By 38.0%

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 32,406,785 shares, a growth of 38.0% from the December 15th total of 23,490,727 shares. Based on an average daily trading volume, of 42,092,917 shares, the short-interest ratio is presently 0.8 days. Currently, 17.4% of the shares of the company are sold short. Currently, 17.4% of the shares of the company are sold short. Based on an average daily trading volume, of 42,092,917 shares, the short-interest ratio is presently 0.8 days.

ProShares Bitcoin ETF Price Performance

Shares of ProShares Bitcoin ETF stock traded up $0.05 during trading hours on Friday, reaching $13.26. The company had a trading volume of 51,319,296 shares, compared to its average volume of 58,656,438. ProShares Bitcoin ETF has a one year low of $12.00 and a one year high of $26.10. The business has a fifty day simple moving average of $13.39 and a 200 day simple moving average of $17.75.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new stake in ProShares Bitcoin ETF during the second quarter valued at approximately $991,000. ORG Partners LLC boosted its holdings in shares of ProShares Bitcoin ETF by 904.8% in the 2nd quarter. ORG Partners LLC now owns 17,886 shares of the company’s stock worth $363,000 after purchasing an additional 16,106 shares in the last quarter. Acorns Advisers LLC boosted its stake in shares of ProShares Bitcoin ETF by 7.0% in the 2nd quarter. Acorns Advisers LLC now owns 3,928,302 shares of the company’s stock valued at $84,498,000 after purchasing an additional 258,155 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of ProShares Bitcoin ETF by 23.8% during the second quarter. Wedbush Securities Inc. now owns 35,260 shares of the company’s stock valued at $758,000 after buying an additional 6,786 shares during the last quarter. Finally, Wealth Management Nebraska boosted its position in ProShares Bitcoin ETF by 16.3% during the 2nd quarter. Wealth Management Nebraska now owns 19,335 shares of the company’s stock valued at $413,000 after buying an additional 2,708 shares during the period.

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.