ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Sees Large Decline in Short Interest

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 4,237,672 shares, a decrease of 40.6% from the September 15th total of 7,128,279 shares. Based on an average daily volume of 4,436,395 shares, the days-to-cover ratio is presently 1.0 days. Currently, 10.8% of the company’s stock are short sold.

Institutional Trading of ProShares Ultra Bitcoin ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in ProShares Ultra Bitcoin ETF by 358.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,310 shares of the company’s stock worth $65,000 after purchasing an additional 3,370 shares in the last quarter. Toth Financial Advisory Corp bought a new position in ProShares Ultra Bitcoin ETF in the third quarter valued at about $51,000. EverSource Wealth Advisors LLC grew its stake in shares of ProShares Ultra Bitcoin ETF by 15.0% during the first quarter. EverSource Wealth Advisors LLC now owns 57,139 shares of the company’s stock worth $665,000 after buying an additional 7,452 shares during the last quarter. SkyOak Wealth LLC acquired a new position in ProShares Ultra Bitcoin ETF in the 2nd quarter worth about $95,000. Finally, Apollon Wealth Management LLC bought a new position in shares of ProShares Ultra Bitcoin ETF during the first quarter valued at $195,000.

ProShares Ultra Bitcoin ETF Stock Down 2.1%

ProShares Ultra Bitcoin ETF stock traded down $0.31 during mid-day trading on Friday, reaching $14.29. The company’s stock had a trading volume of 3,579,767 shares, compared to its average volume of 4,940,313. The business’s 50 day simple moving average is $13.57 and its 200 day simple moving average is $12.31. ProShares Ultra Bitcoin ETF has a 12 month low of $7.92 and a 12 month high of $53.44.

ProShares Ultra Bitcoin ETF Company Profile

The ProShares UltraBitcoin ETF (BITU) 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 leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.