ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 92,143 shares, an increase of 62.2% from the April 30th total of 56,817 shares. Based on an average daily volume of 984,010 shares, the days-to-cover ratio is currently 0.1 days. Approximately 2.2% of the shares of the company are short sold.
ProShares Ultra Short Bitcoin ETF Stock Up 5.4%
Shares of NYSEARCA SBIT opened at $58.34 on Thursday. ProShares Ultra Short Bitcoin ETF has a 1-year low of $23.60 and a 1-year high of $76.51. The stock has a fifty day moving average price of $46.93 and a 200 day moving average price of $47.95.
Institutional Investors Weigh In On ProShares Ultra Short Bitcoin ETF
A number of hedge funds have recently added to or reduced their stakes in the company. Group One Trading LLC lifted its position in ProShares Ultra Short Bitcoin ETF by 4,555.3% in the first quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock valued at $623,000 after purchasing an additional 10,705 shares during the period. XTX Topco Ltd acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at about $247,000. Jump Financial LLC lifted its holdings in ProShares Ultra Short Bitcoin ETF by 161.1% in the fourth quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock valued at $1,189,000 after acquiring an additional 16,703 shares during the period. StoneX Group Inc. acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at $226,000. Finally, Simplex Trading LLC acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at $2,368,000.
ProShares Ultra Short Bitcoin ETF Company Profile
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.
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