ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Up 153.4% in July

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 177,036 shares, a growth of 153.4% from the June 30th total of 69,877 shares. Currently, 6.2% of the company’s shares are short sold. Based on an average daily volume of 663,264 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Client First Investment Management LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at $4,278,000. Simplex Trading LLC acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter worth $2,368,000. IMC Chicago LLC acquired a new stake in ProShares Ultra Short Bitcoin ETF in the fourth quarter worth $1,182,000. Jump Financial LLC increased its stake in ProShares Ultra Short Bitcoin ETF by 161.1% in the fourth quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock valued at $1,189,000 after purchasing an additional 16,703 shares in the last quarter. Finally, Group One Trading LLC increased its stake in ProShares Ultra Short Bitcoin ETF by 4,555.3% in the first quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock valued at $623,000 after purchasing an additional 10,705 shares in the last quarter.

ProShares Ultra Short Bitcoin ETF Stock Down 2.2%

Shares of ProShares Ultra Short Bitcoin ETF stock traded down $1.27 on Monday, hitting $55.61. 414,201 shares of the company’s stock traded hands, compared to its average volume of 1,493,191. The company has a fifty day moving average of $56.88 and a two-hundred day moving average of $52.48. ProShares Ultra Short Bitcoin ETF has a one year low of $23.60 and a one year high of $76.51.

About ProShares Ultra Short Bitcoin ETF

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.