ProShares Short Bitcoin ETF (NYSEARCA:BITI – Free Report) shares are set to reverse split before the market opens on Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.
ProShares Short Bitcoin ETF Stock Performance
Shares of BITI traded down $0.54 during trading hours on Wednesday, hitting $18.27. 1,994,733 shares of the stock were exchanged, compared to its average volume of 1,822,275. ProShares Short Bitcoin ETF has a 12-month low of $16.86 and a 12-month high of $30.93. The company has a market cap of $74.36 million, a price-to-earnings ratio of -4.53 and a beta of -1.44. The stock’s 50-day moving average price is $18.27 and its two-hundred day moving average price is $23.32.
Institutional Investors Weigh In On ProShares Short Bitcoin ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tucker Asset Management LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the second quarter valued at about $2,105,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of ProShares Short Bitcoin ETF in the third quarter worth about $1,111,000. IMC Chicago LLC acquired a new position in ProShares Short Bitcoin ETF during the first quarter worth about $1,611,000. Finally, AXQ Capital LP acquired a new position in ProShares Short Bitcoin ETF during the second quarter worth about $361,000. Institutional investors and hedge funds own 30.27% of the company’s stock.
ProShares Short Bitcoin ETF Company Profile
The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.
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