ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Sees Significant Drop in Short Interest

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 143,325 shares, a decline of 29.0% from the December 31st total of 201,786 shares. Based on an average daily trading volume, of 2,337,363 shares, the short-interest ratio is currently 0.1 days. Currently, 4.8% of the company’s shares are sold short. Currently, 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,337,363 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

Several hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC bought a new position in ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at approximately $1,182,000. Canton Hathaway LLC acquired a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $86,000. Global Trust Asset Management LLC lifted its position in ProShares Ultra Short Bitcoin ETF by 400.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Hudson Capital Management LLC bought a new stake in ProShares Ultra Short Bitcoin ETF in the 3rd quarter valued at $317,000.

ProShares Ultra Short Bitcoin ETF Trading Up 0.7%

SBIT stock opened at $46.25 on Friday. ProShares Ultra Short Bitcoin ETF has a 1-year low of $23.60 and a 1-year high of $76.55. The business’s 50-day moving average price is $41.86 and its two-hundred day moving average price is $34.61.

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.