ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Shares Shorted: Short Interest Down 51.6% in October

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 91,581 shares, a decrease of 51.6% from the September 30th total of 189,349 shares. Based on an average trading volume of 1,579,333 shares, the days-to-cover ratio is currently 0.1 days. Approximately 2.6% of the shares of the stock are short sold.

ProShares Ultra Short Bitcoin ETF Price Performance

Shares of NYSEARCA:SBIT traded up $3.31 during trading on Friday, reaching $35.67. 1,351,245 shares of the company’s stock traded hands, compared to its average volume of 1,352,166. ProShares Ultra Short Bitcoin ETF has a fifty-two week low of $27.82 and a fifty-two week high of $76.51. The company has a 50-day simple moving average of $32.91 and a 200-day simple moving average of $48.15.

Institutional Trading of ProShares Ultra Short Bitcoin ETF

A hedge fund recently bought a new stake in ProShares Ultra Short Bitcoin ETF stock. Prosperitas Financial LLC acquired a new position in shares of ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,900 shares of the company’s stock, valued at approximately $480,000. Prosperitas Financial LLC owned 0.23% of ProShares Ultra Short Bitcoin ETF as of its most recent filing with the Securities & Exchange Commission.

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.