ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Short Interest Update

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 53,163 shares, a decrease of 35.2% from the May 31st total of 82,027 shares. Based on an average daily volume of 1,330,452 shares, the short-interest ratio is currently 0.0 days. Approximately 1.3% of the shares of the company are short sold.

ProShares Ultra Short Bitcoin ETF Price Performance

NYSEARCA:SBIT remained flat at $62.79 during trading hours on Friday. The company’s stock had a trading volume of 775,269 shares, compared to its average volume of 1,613,781. The stock has a 50-day moving average of $51.56 and a 200 day moving average of $50.93. ProShares Ultra Short Bitcoin ETF has a twelve month low of $23.60 and a twelve month high of $76.51.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

Large investors have recently modified their holdings of the business. Group One Trading LLC lifted its stake in shares of ProShares Ultra Short Bitcoin ETF by 4,555.3% during the 1st quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock valued at $623,000 after buying an additional 10,705 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter worth $247,000. Jump Financial LLC boosted its holdings in shares of ProShares Ultra Short Bitcoin ETF by 161.1% in the fourth quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock worth $1,189,000 after acquiring an additional 16,703 shares during the period. StoneX Group Inc. purchased a new position in shares of ProShares Ultra Short Bitcoin ETF in the fourth quarter valued at $226,000. Finally, Simplex Trading LLC bought a new stake in shares of ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at $2,368,000.

About ProShares Ultra Short Bitcoin ETF

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.