ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Update

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 32,406,785 shares, an increase of 38.0% from the December 15th total of 23,490,727 shares. Approximately 17.4% of the shares of the company are short sold. Based on an average trading volume of 42,092,917 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 42,092,917 shares, the short-interest ratio is presently 0.8 days. Approximately 17.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BITO. Kelleher Financial Advisors acquired a new position in shares of ProShares Bitcoin ETF during the third quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new position in shares of ProShares Bitcoin ETF during the 2nd quarter valued at $28,000. ST Germain D J Co. Inc. raised its stake in shares of ProShares Bitcoin ETF by 55.4% in the 3rd quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of ProShares Bitcoin ETF in the third quarter valued at $29,000. Finally, Cedar Mountain Advisors LLC lifted its holdings in shares of ProShares Bitcoin ETF by 43.7% in the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after buying an additional 548 shares during the period.

ProShares Bitcoin ETF Trading Up 0.4%

Shares of NYSEARCA BITO traded up $0.05 during midday trading on Friday, hitting $13.26. The company’s stock had a trading volume of 51,319,296 shares, compared to its average volume of 58,656,438. The firm’s fifty day moving average price is $13.39 and its 200-day moving average price is $17.77. ProShares Bitcoin ETF has a 1-year low of $12.00 and a 1-year high of $26.10.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.