ProShares Short Ether ETF (NYSEARCA:SETH) Sees Large Increase in Short Interest

ProShares Short Ether ETF (NYSEARCA:SETH) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 21,448 shares, a growth of 705.4% from the May 14th total of 2,663 shares. Based on an average daily volume of 49,581 shares, the short-interest ratio is currently 0.4 days. Approximately 6.0% of the company’s stock are short sold.

Institutional Investors Weigh In On ProShares Short Ether ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SETH. Simplex Trading LLC increased its stake in ProShares Short Ether ETF by 535.1% during the 4th quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock worth $67,000 after buying an additional 1,343 shares during the period. Susquehanna International Group LLP purchased a new stake in ProShares Short Ether ETF during the 3rd quarter worth $96,000. Brookstone Capital Management purchased a new stake in ProShares Short Ether ETF during the 4th quarter worth $628,000. Finally, Advisory Services Network LLC purchased a new stake in ProShares Short Ether ETF during the 2nd quarter worth $1,847,000.

ProShares Short Ether ETF Stock Performance

ProShares Short Ether ETF stock traded up $0.11 during midday trading on Wednesday, hitting $56.73. 18,325 shares of the stock were exchanged, compared to its average volume of 60,515. ProShares Short Ether ETF has a 1 year low of $29.20 and a 1 year high of $70.70. The company has a 50 day moving average price of $46.19 and a two-hundred day moving average price of $46.38.

About ProShares Short Ether ETF

The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.