ProShares Short Ether ETF (NYSEARCA:SETH) Short Interest Down 85.0% in May

ProShares Short Ether ETF (NYSEARCA:SETH) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 2,663 shares, a drop of 85.0% from the April 30th total of 17,708 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 28,891 shares, the short-interest ratio is currently 0.1 days.

ProShares Short Ether ETF Price Performance

Shares of ProShares Short Ether ETF stock traded down $0.08 on Friday, hitting $48.62. The company’s stock had a trading volume of 48,855 shares, compared to its average volume of 59,916. ProShares Short Ether ETF has a 1 year low of $29.20 and a 1 year high of $70.70. The firm has a fifty day moving average price of $45.53 and a 200-day moving average price of $45.70.

Hedge Funds Weigh In On ProShares Short Ether ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Simplex Trading LLC boosted its holdings in ProShares Short Ether ETF by 535.1% in 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 last quarter. Susquehanna International Group LLP acquired a new stake in ProShares Short Ether ETF in the 3rd quarter worth about $96,000. Brookstone Capital Management acquired a new stake in ProShares Short Ether ETF in the 4th quarter worth about $628,000. Finally, Advisory Services Network LLC acquired a new stake in ProShares Short Ether ETF in the 2nd quarter worth about $1,847,000.

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.