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

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

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

Large investors have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec grew its stake in ProShares Short Bitcoin ETF by 1,250.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,700 shares of the company’s stock valued at $63,000 after purchasing an additional 2,500 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of ProShares Short Bitcoin ETF in the 4th quarter worth approximately $163,000. Jump Financial LLC purchased a new position in shares of ProShares Short Bitcoin ETF in the 4th quarter worth approximately $200,000. Group One Trading LLC bought a new position in shares of ProShares Short Bitcoin ETF during the 2nd quarter worth approximately $207,000. Finally, Sykon Capital LLC purchased a new stake in ProShares Short Bitcoin ETF during the fourth quarter valued at approximately $209,000. 30.27% of the stock is owned by hedge funds and other institutional investors.

ProShares Short Bitcoin ETF Stock Performance

ProShares Short Bitcoin ETF stock traded up $0.77 during mid-day trading on Friday, hitting $28.88. The company’s stock had a trading volume of 1,892,546 shares, compared to its average volume of 2,811,743. The company has a 50 day moving average of $24.73 and a 200-day moving average of $21.57. ProShares Short Bitcoin ETF has a one year low of $16.58 and a one year high of $30.93. The stock has a market cap of $153.35 million, a PE ratio of -7.17 and a beta of -1.44.

ProShares Short Bitcoin ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 6th. Investors of record on Monday, February 2nd were paid a $0.314 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a yield of 13.0%. This is a boost from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.04. ProShares Short Bitcoin ETF’s payout ratio is -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.