ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Shares Shorted: Short Interest Down 51.6% in October

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 91,581 shares, a decrease of 51.6% from the September 30th total of 189,349 shares. Based on an average daily trading volume, of 1,579,333 shares, the short-interest ratio is currently 0.1 days. Approximately 2.6% of the company’s stock are sold short.

ProShares Ultra Short Bitcoin ETF Trading Up 10.2%

Shares of NYSEARCA SBIT traded up $3.31 during mid-day trading on Friday, reaching $35.67. The company had a trading volume of 1,351,245 shares, compared to its average volume of 1,352,166. The firm has a 50 day simple moving average of $32.91 and a two-hundred day simple moving average of $48.15. ProShares Ultra Short Bitcoin ETF has a 52-week low of $27.82 and a 52-week high of $76.51.

Hedge Funds Weigh In On ProShares Ultra Short Bitcoin ETF

A hedge fund recently raised its stake in ProShares Ultra Short Bitcoin ETF stock. Group One Trading LLC lifted its position in shares of ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) by 4,555.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,940 shares of the company’s stock after purchasing an additional 10,705 shares during the period. Group One Trading LLC owned about 0.26% of ProShares Ultra Short Bitcoin ETF worth $623,000 at the end of the most recent reporting period.

ProShares Ultra Short Bitcoin ETF Company Profile

The ProShares UltraShort Bitcoin ETF (SBIT) 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 inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.