ProShares Bitcoin ETF (NYSEARCA:BITO) Sees Large Decline in Short Interest
by Mitch Edgeman · The Markets DailyProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 13,036,900 shares, a decrease of 39.2% from the January 29th total of 21,444,173 shares. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily volume of 78,712,746 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 78,712,746 shares, the days-to-cover ratio is currently 0.2 days. Approximately 6.2% of the shares of the stock are short sold.
ProShares Bitcoin ETF Trading Down 2.8%
Shares of BITO stock traded down $0.26 during trading hours on Friday, hitting $9.06. 93,428,855 shares of the company’s stock were exchanged, compared to its average volume of 70,433,172. ProShares Bitcoin ETF has a fifty-two week low of $8.61 and a fifty-two week high of $23.63. The firm has a 50 day moving average of $11.31 and a two-hundred day moving average of $15.35.
ProShares Bitcoin ETF Cuts Dividend
The business also recently disclosed a monthly dividend, which was paid on Friday, February 6th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.0097 per share. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, February 2nd.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in ProShares Bitcoin ETF by 120.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock worth $82,224,000 after buying an additional 3,700,000 shares during the last quarter. Acorns Advisers LLC raised its holdings in shares of ProShares Bitcoin ETF by 37.1% during the fourth quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock valued at $76,299,000 after acquiring an additional 1,698,373 shares during the last quarter. RK Capital Management LLC FL lifted its position in shares of ProShares Bitcoin ETF by 374.5% in the second quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock valued at $17,931,000 after acquiring an additional 657,910 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of ProShares Bitcoin ETF by 139.3% in the third quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after acquiring an additional 530,987 shares during the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of ProShares Bitcoin ETF in the fourth quarter worth approximately $4,903,000.
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.