ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Short Interest Up 64.4% in January

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 4,617,138 shares, an increase of 64.4% from the January 15th total of 2,808,928 shares. Based on an average daily trading volume, of 5,352,189 shares, the days-to-cover ratio is presently 0.9 days. Currently, 16.5% of the shares of the company are sold short. Currently, 16.5% of the shares of the company are sold short. Based on an average daily trading volume, of 5,352,189 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC bought a new stake in shares of ProShares Ultra Bitcoin ETF during the fourth quarter worth $39,000. CWM LLC grew its holdings in ProShares Ultra Bitcoin ETF by 1,300.0% during the 3rd quarter. CWM LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 702 shares during the last quarter. Winnow Wealth LLC increased its position in ProShares Ultra Bitcoin ETF by 99.1% in the 4th quarter. Winnow Wealth LLC now owns 2,282 shares of the company’s stock valued at $52,000 after acquiring an additional 1,136 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of ProShares Ultra Bitcoin ETF in the fourth quarter worth about $107,000. Finally, Advisory Services Network LLC bought a new position in shares of ProShares Ultra Bitcoin ETF in the third quarter worth about $111,000.

ProShares Ultra Bitcoin ETF Trading Up 10.2%

ProShares Ultra Bitcoin ETF stock traded up $1.16 during trading hours on Friday, hitting $12.54. The stock had a trading volume of 7,239,212 shares, compared to its average volume of 6,540,323. The company has a 50-day moving average of $22.63 and a two-hundred day moving average of $39.67. ProShares Ultra Bitcoin ETF has a fifty-two week low of $10.58 and a fifty-two week high of $65.77.

ProShares Ultra Bitcoin ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.03 per share. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 2.9%.

ProShares Ultra Bitcoin ETF Company Profile

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.