ProShares Short Bitcoin ETF (NYSEARCA:BITI) Short Interest Update

ProShares Short Bitcoin ETF (NYSEARCA:BITI) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 533,307 shares, a growth of 23.5% from the February 26th total of 431,909 shares. Based on an average trading volume of 2,443,368 shares, the days-to-cover ratio is presently 0.2 days. Currently, 10.0% of the company’s shares are short sold.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

A number of institutional investors have recently modified their holdings of BITI. Quadrature Capital Ltd bought a new position in ProShares Short Bitcoin ETF during the fourth quarter worth $2,505,000. Advisory Services Network LLC bought a new stake in ProShares Short Bitcoin ETF during the second quarter valued at $779,000. SIH Partners LLLP acquired a new stake in ProShares Short Bitcoin ETF during the 4th quarter worth about $895,000. CreativeOne Wealth LLC acquired a new stake in ProShares Short Bitcoin ETF during the 4th quarter worth about $767,000. Finally, Brookstone Capital Management bought a new position in shares of ProShares Short Bitcoin ETF in the 4th quarter worth about $673,000. 30.27% of the stock is owned by institutional investors.

ProShares Short Bitcoin ETF Price Performance

ProShares Short Bitcoin ETF stock opened at $26.66 on Wednesday. The stock’s 50 day moving average is $26.31 and its 200 day moving average is $22.72. ProShares Short Bitcoin ETF has a one year low of $16.58 and a one year high of $30.93. The firm has a market cap of $141.56 million, a P/E ratio of -6.62 and a beta of -1.44.

ProShares Short Bitcoin ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were given a $0.953 dividend. This is an increase from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.31. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 42.9%. ProShares Short Bitcoin ETF’s dividend payout ratio is presently -39.21%.

ProShares Short Bitcoin ETF Company Profile

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.