ProShares Bitcoin ETF (NYSEARCA:BITO) Sees Large Increase in Short Interest

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 18,191,389 shares, a growth of 39.5% from the February 12th total of 13,036,900 shares. Currently, 8.6% of the company’s shares are sold short. Based on an average daily trading volume, of 80,601,563 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 80,601,563 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BITO. B. Riley Wealth Advisors Inc. acquired a new stake in shares of ProShares Bitcoin ETF in the second quarter worth $991,000. Acorns Advisers LLC lifted its holdings in shares of ProShares Bitcoin ETF by 7.0% during the 2nd quarter. Acorns Advisers LLC now owns 3,928,302 shares of the company’s stock valued at $84,498,000 after acquiring an additional 258,155 shares in the last quarter. Fielder Capital Group LLC lifted its holdings in shares of ProShares Bitcoin ETF by 14.5% during the 3rd quarter. Fielder Capital Group LLC now owns 508,475 shares of the company’s stock valued at $10,007,000 after acquiring an additional 64,525 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in ProShares Bitcoin ETF during the 2nd quarter worth $233,000. Finally, Scotia Capital Inc. boosted its position in ProShares Bitcoin ETF by 323.6% during the 2nd quarter. Scotia Capital Inc. now owns 48,874 shares of the company’s stock worth $1,051,000 after purchasing an additional 37,337 shares during the period.

ProShares Bitcoin ETF Trading Up 1.0%

Shares of ProShares Bitcoin ETF stock opened at $9.80 on Monday. The business’s fifty day moving average price is $10.78 and its 200 day moving average price is $14.52. ProShares Bitcoin ETF has a twelve month low of $8.61 and a twelve month high of $23.63.

ProShares Bitcoin ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were issued a $0.0143 dividend. This is a positive change from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%.

About ProShares Bitcoin ETF

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.