Short Interest in ProShares Short Bitcoin ETF (NYSEARCA:BITI) Declines By 25.7%

ProShares Short Bitcoin ETF (NYSEARCA:BITI) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 300,488 shares, a decrease of 25.7% from the January 15th total of 404,180 shares. Based on an average daily trading volume, of 2,159,315 shares, the days-to-cover ratio is currently 0.1 days. Currently, 5.7% of the company’s shares are sold short. Currently, 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,159,315 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in ProShares Short Bitcoin ETF in the 2nd quarter valued at about $230,000. Group One Trading LLC bought a new stake in shares of ProShares Short Bitcoin ETF during the second quarter valued at approximately $207,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $297,000 after purchasing an additional 8,700 shares during the period. Advisory Services Network LLC purchased a new stake in shares of ProShares Short Bitcoin ETF in the second quarter valued at approximately $779,000. Finally, Brookstone Capital Management bought a new position in ProShares Short Bitcoin ETF in the fourth quarter worth approximately $673,000. Institutional investors own 30.27% of the company’s stock.

ProShares Short Bitcoin ETF Stock Down 5.2%

BITI opened at $27.78 on Friday. The business has a fifty day moving average of $23.60 and a 200 day moving average of $20.83. The stock has a market cap of $147.51 million, a P/E ratio of -6.89 and a beta of -1.44. ProShares Short Bitcoin ETF has a 52-week low of $16.58 and a 52-week high of $30.93.

ProShares Short Bitcoin ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 6th. Stockholders of record on Monday, February 2nd were issued a $0.314 dividend. The ex-dividend date was Monday, February 2nd. This is a boost from ProShares Short Bitcoin ETF’s previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. ProShares Short Bitcoin ETF’s dividend payout ratio (DPR) is currently -16.38%.

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.