ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT – Get Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 96,663 shares, a decrease of 45.4% from the July 15th total of 177,036 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average daily volume of 507,611 shares, the days-to-cover ratio is presently 0.2 days.
ProShares Ultra Short Bitcoin ETF Stock Down 0.8%
Shares of NYSEARCA SBIT opened at $55.43 on Wednesday. The firm’s fifty day moving average is $58.99 and its 200 day moving average is $54.55. ProShares Ultra Short Bitcoin ETF has a 52 week low of $23.60 and a 52 week high of $76.51.
Institutional Trading of 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 during the fourth quarter valued at approximately $4,278,000. Simplex Trading LLC purchased a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter worth $2,368,000. IMC Chicago LLC bought a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at $1,182,000. Jump Financial LLC boosted 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 in the last quarter. Finally, Group One Trading LLC increased its position in ProShares Ultra Short Bitcoin ETF by 4,555.3% during the 1st 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.
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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