ProShares Short Ether ETF (NYSEARCA:SETH) Sees Significant Drop in Short Interest

ProShares Short Ether ETF (NYSEARCA:SETH) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 5,041 shares, a decline of 45.4% from the September 30th total of 9,235 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 29,804 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares Short Ether ETF stock. Tucker Asset Management LLC raised its stake in shares of ProShares Short Ether ETF (NYSEARCA:SETH) by 8.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 42,289 shares of the company’s stock after purchasing an additional 3,259 shares during the period. Tucker Asset Management LLC owned approximately 18.39% of ProShares Short Ether ETF worth $1,286,000 as of its most recent SEC filing.

ProShares Short Ether ETF Stock Up 4.5%

Shares of ProShares Short Ether ETF stock traded up $1.56 during trading on Friday, reaching $36.04. 17,169 shares of the company traded hands, compared to its average volume of 45,213. The company has a 50 day moving average price of $32.49 and a 200-day moving average price of $44.36. ProShares Short Ether ETF has a 1-year low of $29.19 and a 1-year high of $62.82.

ProShares Short Ether ETF Company Profile

The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.