ProShares Short Bitcoin ETF (NYSEARCA:BITI) Trading Down 4.6% – Here’s What Happened

ProShares Short Bitcoin ETF (NYSEARCA:BITI) shares were down 4.6% during trading on Monday . The company traded as low as $25.38 and last traded at $25.69. Approximately 1,864,295 shares were traded during trading, a decline of 16% from the average daily volume of 2,215,490 shares. The stock had previously closed at $26.93.

ProShares Short Bitcoin ETF Stock Up 2.2%

The stock’s 50-day moving average is $23.89 and its 200 day moving average is $24.44. The stock has a market capitalization of $215.27 million, a PE ratio of -6.60 and a beta of -1.36.

Institutional Trading of ProShares Short Bitcoin ETF

Several large investors have recently added to or reduced their stakes in the business. Federation des caisses Desjardins du Quebec grew its position in ProShares Short Bitcoin ETF by 1,250.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,700 shares of the company’s stock worth $63,000 after acquiring an additional 2,500 shares in the last quarter. Simplex Trading LLC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $163,000. Jump Financial LLC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $200,000. Tower Research Capital LLC TRC grew its position in ProShares Short Bitcoin ETF by 136.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,081 shares of the company’s stock worth $297,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Sykon Capital LLC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $209,000. 30.27% of the stock is owned by institutional investors.

About ProShares Short Bitcoin ETF

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.