ProShares Short Ether ETF (NYSEARCA:SETH) Short Interest Down 85.0% in May

ProShares Short Ether ETF (NYSEARCA:SETH) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,663 shares, a decline of 85.0% from the April 30th total of 17,708 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 28,891 shares, the short-interest ratio is currently 0.1 days.

ProShares Short Ether ETF Stock Performance

Shares of SETH traded up $1.47 on Thursday, hitting $49.25. 89,687 shares of the stock traded hands, compared to its average volume of 59,310. ProShares Short Ether ETF has a 1 year low of $29.20 and a 1 year high of $70.70. The stock’s 50 day moving average is $45.42 and its two-hundred day moving average is $45.61.

Hedge Funds Weigh In On ProShares Short Ether ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplex Trading LLC raised its stake in ProShares Short Ether ETF by 535.1% during the fourth quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock worth $67,000 after purchasing an additional 1,343 shares during the period. Susquehanna International Group LLP acquired a new position in shares of ProShares Short Ether ETF during the 3rd quarter valued at $96,000. Brookstone Capital Management purchased a new stake in shares of ProShares Short Ether ETF in the fourth quarter worth about $628,000. Finally, Advisory Services Network LLC acquired a new stake in shares of ProShares Short Ether ETF in the second quarter valued at about $1,847,000.

About ProShares Short Ether ETF

The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.