ProShares Short Bitcoin ETF (NYSEARCA:BITI) Sees Significant Growth in Short Interest

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 502,991 shares, an increase of 67.4% from the January 29th total of 300,488 shares. Currently, 9.5% of the company’s stock are short sold. Based on an average daily volume of 4,411,121 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 4,411,121 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BITI. Federation des caisses Desjardins du Quebec raised its stake in shares of ProShares Short Bitcoin ETF by 1,250.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,700 shares of the company’s stock worth $63,000 after purchasing an additional 2,500 shares in the last quarter. Simplex Trading LLC acquired a new position in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $163,000. Jump Financial LLC bought a new position in ProShares Short Bitcoin ETF during the fourth quarter valued at approximately $200,000. Tower Research Capital LLC TRC lifted its stake in ProShares Short Bitcoin ETF by 136.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock valued at $297,000 after acquiring an additional 8,700 shares during the last quarter. Finally, Sykon Capital LLC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Price Performance

ProShares Short Bitcoin ETF stock traded down $2.65 during trading hours on Monday, hitting $26.23. The company had a trading volume of 1,601,429 shares, compared to its average volume of 2,777,644. ProShares Short Bitcoin ETF has a fifty-two week low of $16.58 and a fifty-two week high of $30.93. The firm has a market capitalization of $139.30 million, a P/E ratio of -6.50 and a beta of -1.44. The firm’s fifty day moving average is $24.73 and its 200-day moving average is $21.60.

ProShares Short Bitcoin ETF Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 6th. Stockholders of record on Monday, March 2nd will be paid a $0.953 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 43.6%. This is a boost from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.31. The ex-dividend date of this dividend is Monday, March 2nd. ProShares Short Bitcoin ETF’s dividend payout ratio (DPR) is currently -16.38%.

ProShares Short Bitcoin ETF Company Profile

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.