ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Sees Large Drop in Short Interest

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 176,884 shares, a decline of 50.6% from the November 30th total of 358,383 shares. Based on an average trading volume of 3,047,035 shares, the short-interest ratio is presently 0.1 days. Approximately 7.0% of the shares of the stock are short sold. Approximately 7.0% of the shares of the stock are short sold. Based on an average trading volume of 3,047,035 shares, the short-interest ratio is presently 0.1 days.

ProShares Ultra Short Bitcoin ETF Trading Down 0.5%

NYSEARCA SBIT traded down $0.20 during trading hours on Friday, reaching $43.86. 1,089,624 shares of the stock traded hands, compared to its average volume of 1,783,182. The stock has a 50 day simple moving average of $39.02 and a two-hundred day simple moving average of $33.51. ProShares Ultra Short Bitcoin ETF has a 1 year low of $23.60 and a 1 year high of $76.55.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

Large investors have recently modified their holdings of the stock. Global Trust Asset Management LLC boosted its stake in ProShares Ultra Short Bitcoin ETF by 400.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,200 shares in the last quarter. Hudson Capital Management LLC bought a new stake in ProShares Ultra Short Bitcoin ETF during the 3rd quarter valued at about $317,000. Finally, Jump Financial LLC increased its stake in ProShares Ultra Short Bitcoin ETF by 239.5% during the 1st quarter. Jump Financial LLC now owns 73,805 shares of the company’s stock valued at $967,000 after purchasing an additional 52,067 shares in the last quarter.

ProShares Ultra Short Bitcoin ETF Company Profile

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.