ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Sees Significant Increase in Short Interest

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Q Fund Management Hong Kong Ltd bought a new position in shares of ProShares Ultra Bitcoin ETF during the second quarter valued at $15,380,000. DRW Securities LLC lifted its stake in ProShares Ultra Bitcoin ETF by 1,133.6% during the 4th quarter. DRW Securities LLC now owns 261,525 shares of the company’s stock valued at $5,777,000 after acquiring an additional 240,324 shares during the period. Renaissance Technologies LLC lifted its stake in ProShares Ultra Bitcoin ETF by 1,627.7% during the 4th quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock valued at $3,168,000 after acquiring an additional 135,100 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of ProShares Ultra Bitcoin ETF by 52.7% during 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. Finally, Financial Management Professionals Inc. grew its stake in shares of ProShares Ultra Bitcoin ETF by 1.9% in the fourth quarter. Financial Management Professionals Inc. now owns 64,619 shares of the company’s stock worth $1,427,000 after acquiring an additional 1,176 shares during the period.

ProShares Ultra Bitcoin ETF Price Performance

Shares of BITU stock opened at $12.54 on Monday. ProShares Ultra Bitcoin ETF has a one year low of $10.58 and a one year high of $65.77. The company’s 50-day moving average is $22.63 and its 200 day moving average is $39.38.

ProShares Ultra Bitcoin ETF Cuts Dividend

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

About ProShares Ultra Bitcoin ETF

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.