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

ProShares Short Ether ETF (NYSEARCA:SETH) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 3,224 shares, a drop of 85.0% from the May 31st total of 21,448 shares. Based on an average trading volume of 63,504 shares, the short-interest ratio is currently 0.1 days. Approximately 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in shares of ProShares Short Ether ETF in the 2nd quarter valued at $1,847,000. Brookstone Capital Management purchased a new position in ProShares Short Ether ETF during the 4th quarter valued at $628,000. Susquehanna International Group LLP bought a new stake in shares of ProShares Short Ether ETF during the 3rd quarter valued at about $96,000. Finally, Simplex Trading LLC raised its stake in ProShares Short Ether ETF by 535.1% in the fourth quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock worth $67,000 after buying an additional 1,343 shares in the last quarter.

ProShares Short Ether ETF Trading Down 1.1%

SETH stock traded down $0.67 during trading on Friday, reaching $58.76. The stock had a trading volume of 23,587 shares, compared to its average volume of 58,636. The company’s 50 day moving average is $48.55 and its two-hundred day moving average is $47.46. ProShares Short Ether ETF has a one year low of $29.20 and a one year high of $65.06.

ProShares Short Ether ETF Company Profile

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.