ProShares Bitcoin ETF (NYSEARCA:BITO) Sees Significant Growth in Short Interest

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 18,191,389 shares, an increase of 39.5% from the February 12th total of 13,036,900 shares. Based on an average daily volume of 80,601,563 shares, the short-interest ratio is presently 0.2 days. Approximately 8.6% of the company’s stock are sold short. Approximately 8.6% of the company’s stock are sold short. Based on an average daily volume of 80,601,563 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of ProShares Bitcoin ETF by 120.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock valued at $82,224,000 after acquiring an additional 3,700,000 shares in the last quarter. Acorns Advisers LLC lifted its holdings in shares of ProShares Bitcoin ETF by 37.1% in the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after purchasing an additional 1,698,373 shares in the last quarter. RK Capital Management LLC FL grew its position in ProShares Bitcoin ETF by 374.5% in the 2nd quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock valued at $17,931,000 after purchasing an additional 657,910 shares during the period. Tidal Investments LLC grew its position in ProShares Bitcoin ETF by 139.3% in the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock valued at $17,165,000 after purchasing an additional 530,987 shares during the period. Finally, Group One Trading LLC bought a new stake in ProShares Bitcoin ETF during the 4th quarter valued at $4,903,000.

ProShares Bitcoin ETF Price Performance

Shares of BITO stock traded up $0.10 on Friday, reaching $9.80. 131,051,321 shares of the company were exchanged, compared to its average volume of 80,998,289. The company has a 50-day moving average of $10.78 and a 200-day moving average of $14.60. ProShares Bitcoin ETF has a one year low of $8.61 and a one year high of $23.63.

ProShares Bitcoin ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were paid a dividend of $0.0143 per share. This is an increase from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 1.7%.

About ProShares Bitcoin ETF

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.