Short Interest in ProShares Bitcoin ETF (NYSEARCA:BITO) Drops By 25.1%

ProShares Bitcoin ETF (NYSEARCA:BITOGet Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 24,259,821 shares, a decline of 25.1% from the December 31st total of 32,406,785 shares. Based on an average daily volume of 59,390,519 shares, the short-interest ratio is currently 0.4 days. Currently, 12.1% of the shares of the company are short sold. Currently, 12.1% of the shares of the company are short sold. Based on an average daily volume of 59,390,519 shares, the short-interest ratio is currently 0.4 days.

ProShares Bitcoin ETF Price Performance

Shares of ProShares Bitcoin ETF stock traded down $0.06 on Friday, hitting $11.60. The stock had a trading volume of 58,107,203 shares, compared to its average volume of 61,715,328. ProShares Bitcoin ETF has a twelve month low of $11.33 and a twelve month high of $25.75. The business’s 50 day moving average is $12.88 and its two-hundred day moving average is $17.10.

Institutional Investors Weigh In On ProShares Bitcoin ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kelleher Financial Advisors bought a new position in ProShares Bitcoin ETF during the third quarter worth about $26,000. PNC Financial Services Group Inc. acquired a new position in shares of ProShares Bitcoin ETF during the 2nd quarter worth approximately $28,000. ST Germain D J Co. Inc. grew its position in ProShares Bitcoin ETF by 55.4% during the third 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 during the 3rd quarter worth $29,000. Finally, Signature Resources Capital Management LLC bought a new stake in ProShares Bitcoin ETF during the fourth quarter worth about $31,000.

ProShares Bitcoin ETF Company Profile

(Get Free Report)

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.

Further Reading

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