ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Short Interest Down 22.5% in December

by · The Markets Daily

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 2,173,314 shares, a decline of 22.5% from the December 15th total of 2,803,355 shares. Based on an average daily volume of 4,154,737 shares, the days-to-cover ratio is currently 0.5 days. Approximately 8.1% of the company’s shares are short sold. Approximately 8.1% of the company’s shares are short sold. Based on an average daily volume of 4,154,737 shares, the days-to-cover ratio is currently 0.5 days.

ProShares Ultra Bitcoin ETF Stock Performance

Shares of NYSEARCA BITU traded up $0.12 during mid-day trading on Friday, reaching $25.94. 5,191,325 shares of the company’s stock were exchanged, compared to its average volume of 4,976,366. ProShares Ultra Bitcoin ETF has a 52-week low of $21.55 and a 52-week high of $65.77. The company’s 50-day moving average is $28.48 and its 200-day moving average is $45.23.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Q Fund Management Hong Kong Ltd purchased a new position in ProShares Ultra Bitcoin ETF in the second quarter valued at $15,380,000. NewEdge Advisors LLC increased its holdings in shares of ProShares Ultra Bitcoin ETF by 52.7% in the 3rd quarter. NewEdge Advisors LLC now owns 66,510 shares of the company’s stock valued at $3,551,000 after acquiring an additional 22,964 shares during the last quarter. Financial Management Professionals Inc. raised its position in shares of ProShares Ultra Bitcoin ETF by 2.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 63,881 shares of the company’s stock worth $3,306,000 after acquiring an additional 1,473 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in ProShares Ultra Bitcoin ETF by 11.9% during the third quarter. Bleakley Financial Group LLC now owns 33,836 shares of the company’s stock worth $1,807,000 after purchasing an additional 3,591 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in ProShares Ultra Bitcoin ETF by 29.5% in the second quarter. EverSource Wealth Advisors LLC now owns 25,007 shares of the company’s stock valued at $1,294,000 after purchasing an additional 5,692 shares in the last quarter.

About ProShares Ultra Bitcoin ETF

(Get Free Report)

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.

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