ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Update

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 176,884 shares, a decline of 50.6% from the November 30th total of 358,383 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average daily volume of 3,047,035 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 3,047,035 shares, the days-to-cover ratio is presently 0.1 days. Approximately 7.0% of the shares of the company are sold short.

ProShares Ultra Short Bitcoin ETF Price Performance

Shares of NYSEARCA:SBIT traded down $0.20 during trading on Friday, hitting $43.86. The company’s stock had a trading volume of 1,089,624 shares, compared to its average volume of 1,783,182. The company has a 50-day moving average of $39.02 and a 200-day moving average of $33.51. ProShares Ultra Short Bitcoin ETF has a 12 month low of $23.60 and a 12 month high of $76.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jump Financial LLC increased its stake in shares of ProShares Ultra Short Bitcoin ETF by 239.5% in the 1st quarter. Jump Financial LLC now owns 73,805 shares of the company’s stock worth $967,000 after purchasing an additional 52,067 shares in the last quarter. Hudson Capital Management LLC purchased a new position in ProShares Ultra Short Bitcoin ETF during the third quarter valued at $317,000. Finally, Global Trust Asset Management LLC grew its holdings in ProShares Ultra Short Bitcoin ETF by 400.0% during the third quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,200 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.