ProShares Short Bitcoin ETF (NYSEARCA:BITI – Get Free Report)’s stock price traded up 2.5% on Wednesday . The company traded as high as $26.28 and last traded at $25.97. 749,387 shares traded hands during trading, a decline of 65% from the average daily volume of 2,144,050 shares. The stock had previously closed at $25.34.
ProShares Short Bitcoin ETF Stock Up 2.5%
The company’s 50-day moving average price is $24.97 and its 200-day moving average price is $24.90. The firm has a market cap of $108.55 million, a price-to-earnings ratio of -6.44 and a beta of -1.42.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in ProShares Short Bitcoin ETF in the 4th quarter worth about $2,505,000. IMC Chicago LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the first quarter worth approximately $1,611,000. Advisory Services Network LLC acquired a new stake in shares of ProShares Short Bitcoin ETF in the second quarter worth approximately $779,000. SIH Partners LLLP purchased a new stake in shares of ProShares Short Bitcoin ETF during the fourth quarter worth approximately $895,000. Finally, Renaissance Technologies LLC increased its position in shares of ProShares Short Bitcoin ETF by 87.8% during the fourth quarter. Renaissance Technologies LLC now owns 36,800 shares of the company’s stock worth $853,000 after purchasing an additional 17,200 shares in the last quarter. 30.27% of the stock is owned by hedge funds and other institutional investors.
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.
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