Short Interest in ProShares Bitcoin ETF (NYSEARCA:BITO) Decreases By 21.5%

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 23,490,727 shares, a drop of 21.5% from the November 30th total of 29,906,187 shares. Approximately 15.4% of the company’s stock are short sold. Based on an average daily volume of 41,026,744 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 41,026,744 shares, the short-interest ratio is currently 0.6 days. Approximately 15.4% of the company’s stock are short sold.

ProShares Bitcoin ETF Price Performance

BITO stock traded down $0.06 during midday trading on Wednesday, hitting $12.16. 45,702,091 shares of the company’s stock were exchanged, compared to its average volume of 14,773,694. The firm has a 50 day moving average price of $14.59 and a 200-day moving average price of $18.49. ProShares Bitcoin ETF has a 12-month low of $12.00 and a 12-month high of $26.10.

Institutional Trading of ProShares Bitcoin ETF

Several hedge funds have recently made changes to their positions in the stock. Banque Transatlantique SA bought a new stake in ProShares Bitcoin ETF during the 1st quarter valued at $769,000. Integrated Wealth Concepts LLC boosted its position in shares of ProShares Bitcoin ETF by 6.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 23,289 shares of the company’s stock valued at $427,000 after purchasing an additional 1,339 shares during the period. NewEdge Advisors LLC grew its position in ProShares Bitcoin ETF by 22.9% during the 1st quarter. NewEdge Advisors LLC now owns 134,427 shares of the company’s stock worth $2,463,000 after purchasing an additional 25,064 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in ProShares Bitcoin ETF by 152.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,168,833 shares of the company’s stock worth $149,653,000 after acquiring an additional 4,939,205 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of ProShares Bitcoin ETF by 2,260.3% in the first quarter. McIlrath & Eck LLC now owns 10,952 shares of the company’s stock worth $201,000 after purchasing an additional 10,488 shares in the last quarter.

ProShares Bitcoin ETF Company Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.