ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 56,817 shares, a decline of 35.6% from the April 15th total of 88,232 shares. Based on an average daily trading volume, of 943,621 shares, the short-interest ratio is currently 0.1 days. Approximately 1.4% of the company’s stock are sold short.
ProShares Ultra Short Bitcoin ETF Stock Performance
Shares of SBIT stock traded up $2.38 during mid-day trading on Monday, reaching $42.95. 881,031 shares of the company’s stock traded hands, compared to its average volume of 1,818,333. The company’s 50-day moving average price is $48.62 and its 200-day moving average price is $46.72. ProShares Ultra Short Bitcoin ETF has a 12 month low of $23.60 and a 12 month high of $76.51.
Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF
Several large investors have recently modified their holdings of SBIT. Client First Investment Management LLC purchased a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $4,278,000. Simplex Trading LLC purchased a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $2,368,000. IMC Chicago LLC purchased a new position in shares of ProShares Ultra Short Bitcoin ETF in the 4th quarter worth about $1,182,000. Jump Financial LLC raised its position in shares of ProShares Ultra Short Bitcoin ETF by 161.1% in the 4th quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock worth $1,189,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Group One Trading LLC raised its position in shares of ProShares Ultra Short Bitcoin ETF by 4,555.3% in the 1st quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock worth $623,000 after purchasing an additional 10,705 shares during the last quarter.
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.
Read More
- Five stocks we like better than ProShares Ultra Short Bitcoin ETF
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Receive News & Ratings for ProShares Ultra Short Bitcoin ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares Ultra Short Bitcoin ETF and related companies with MarketBeat.com's FREE daily email newsletter.
