ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Down 35.2% in June

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 53,163 shares, a drop of 35.2% from the May 31st total of 82,027 shares. Based on an average trading volume of 1,330,452 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.3% of the company’s stock are sold short.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

Hedge funds have recently bought and sold shares of the stock. Canton Hathaway LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at about $86,000. StoneX Group Inc. acquired a new stake in ProShares Ultra Short Bitcoin ETF in the 4th quarter valued at $226,000. XTX Topco Ltd bought a new stake in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $247,000. Group One Trading LLC grew its stake in ProShares Ultra Short Bitcoin ETF by 4,555.3% during the first quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock worth $623,000 after buying an additional 10,705 shares during the last quarter. Finally, Jump Financial LLC increased its holdings 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 purchasing an additional 16,703 shares in the last quarter.

ProShares Ultra Short Bitcoin ETF Stock Down 5.1%

Shares of SBIT opened at $66.06 on Thursday. The company’s 50 day moving average price is $51.22 and its 200 day moving average price is $50.78. ProShares Ultra Short Bitcoin ETF has a 52 week low of $23.60 and a 52 week high of $76.51.

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.