ProShares Bitcoin ETF (NYSEARCA:BITO) Short Interest Down 25.1% in January

ProShares Bitcoin ETF (NYSEARCA:BITO) saw a large decline in short interest in January. As of January 15th, there was short interest totaling 24,259,821 shares, a decline of 25.1% from the December 31st total of 32,406,785 shares. Approximately 12.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 59,390,519 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 59,390,519 shares, the days-to-cover ratio is presently 0.4 days. Approximately 12.1% of the shares of the stock are sold short.

ProShares Bitcoin ETF Stock Performance

Shares of NYSEARCA BITO traded down $0.06 during trading hours on Friday, hitting $11.60. 58,107,203 shares of the stock were exchanged, compared to its average volume of 61,715,328. The company’s fifty day simple moving average is $12.88 and its two-hundred day simple moving average is $17.10. ProShares Bitcoin ETF has a 1-year low of $11.33 and a 1-year high of $25.75.

Institutional Trading of ProShares Bitcoin ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Acorns Advisers LLC raised its stake in ProShares Bitcoin ETF by 16.5% during the third quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock worth $90,060,000 after acquiring an additional 647,924 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of ProShares Bitcoin ETF by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock valued at $17,165,000 after purchasing an additional 530,987 shares during the last quarter. RK Capital Management LLC FL grew its holdings in shares of ProShares Bitcoin ETF by 374.5% during the 2nd quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock valued at $17,931,000 after purchasing an additional 657,910 shares during the last quarter. Faithward Advisors LLC increased its position in ProShares Bitcoin ETF by 3.0% during the 2nd quarter. Faithward Advisors LLC now owns 785,517 shares of the company’s stock worth $16,896,000 after purchasing an additional 23,237 shares in the last quarter. Finally, Fielder Capital Group LLC lifted its stake in ProShares Bitcoin ETF by 14.5% in the 3rd quarter. Fielder Capital Group LLC now owns 508,475 shares of the company’s stock valued at $10,007,000 after purchasing an additional 64,525 shares during the last quarter.

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.