ProShares Short Ether ETF (NYSEARCA:SETH) Sees Significant Drop in Short Interest

ProShares Short Ether ETF (NYSEARCA:SETH) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 3,224 shares, a decline of 85.0% from the May 31st total of 21,448 shares. Based on an average daily 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.

ProShares Short Ether ETF Stock Up 1.5%

NYSEARCA:SETH opened at $59.43 on Friday. The firm’s 50-day moving average price is $48.21 and its 200-day moving average price is $47.38. ProShares Short Ether ETF has a 1-year low of $29.20 and a 1-year high of $65.06.

Institutional Investors Weigh In On ProShares Short Ether ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Simplex Trading LLC grew its holdings 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 purchasing an additional 1,343 shares during the period. Susquehanna International Group LLP purchased a new position in shares of ProShares Short Ether ETF during the third quarter valued at approximately $96,000. Brookstone Capital Management purchased a new position in shares of ProShares Short Ether ETF during the fourth quarter valued at approximately $628,000. Finally, Advisory Services Network LLC bought a new stake in shares of ProShares Short Ether ETF in the 2nd quarter worth approximately $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.