ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Short Interest Up 29.2% in January

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,808,928 shares, a growth of 29.2% from the December 31st total of 2,173,314 shares. Currently, 10.6% of the shares of the company are sold short. Based on an average daily volume of 4,955,333 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 4,955,333 shares, the days-to-cover ratio is currently 0.6 days. Currently, 10.6% of the shares of the company are sold short.

ProShares Ultra Bitcoin ETF Trading Down 14.5%

Shares of NYSEARCA:BITU traded down $2.86 during trading on Monday, reaching $16.81. The stock had a trading volume of 15,516,533 shares, compared to its average volume of 5,646,948. The stock has a fifty day simple moving average of $25.73 and a two-hundred day simple moving average of $42.41. ProShares Ultra Bitcoin ETF has a 52 week low of $16.72 and a 52 week high of $65.77.

ProShares Ultra Bitcoin ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 6th. Investors of record on Monday, February 2nd will be issued a $0.03 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, February 2nd.

Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF

Several hedge funds and other institutional investors have recently made changes to their positions in BITU. Simplex Trading LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the 2nd quarter worth about $797,000. Mutual Advisors LLC increased its position in ProShares Ultra Bitcoin ETF by 9.0% in the 2nd quarter. Mutual Advisors LLC now owns 17,592 shares of the company’s stock worth $910,000 after buying an additional 1,459 shares during the period. Bleakley Financial Group LLC increased its position in ProShares Ultra Bitcoin ETF by 13.0% in the 2nd quarter. Bleakley Financial Group LLC now owns 30,245 shares of the company’s stock worth $1,565,000 after buying an additional 3,478 shares during the period. Q Fund Management Hong Kong Ltd acquired a new position in shares of ProShares Ultra Bitcoin ETF during the second quarter worth approximately $15,380,000. Finally, Spire Wealth Management boosted its position in shares of ProShares Ultra Bitcoin ETF by 333.5% in the second quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock valued at $224,000 after acquiring an additional 3,335 shares during the period.

About ProShares Ultra Bitcoin ETF

The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.