ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) Trading Up 4.1% – Here’s Why

ProShares Ultra Short Bitcoin ETF (NYSEARCA:SBIT) rose 4.1% on Thursday . The stock traded as high as $62.59 and last traded at $61.30. Approximately 947,039 shares were traded during mid-day trading, a decline of 43% from the average session volume of 1,670,400 shares. The stock had previously closed at $58.87.

ProShares Ultra Short Bitcoin ETF Stock Performance

The business has a 50 day simple moving average of $47.94 and a 200-day simple moving average of $49.26.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SBIT. Canton Hathaway LLC purchased a new position in shares of ProShares Ultra Short Bitcoin ETF during the fourth quarter valued at approximately $86,000. StoneX Group Inc. purchased a new stake in ProShares Ultra Short Bitcoin ETF in the 4th quarter valued at $226,000. XTX Topco Ltd bought a new position in ProShares Ultra Short Bitcoin ETF during the 4th quarter valued at $247,000. Group One Trading LLC lifted its stake in ProShares Ultra Short Bitcoin ETF by 4,555.3% during the 1st quarter. Group One Trading LLC now owns 10,940 shares of the company’s stock valued at $623,000 after acquiring an additional 10,705 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in ProShares Ultra Short Bitcoin ETF by 161.1% during the 4th quarter. Jump Financial LLC now owns 27,071 shares of the company’s stock valued at $1,189,000 after acquiring an additional 16,703 shares in the last quarter.

ProShares Ultra Short Bitcoin ETF Company Profile

The ProShares UltraShort Bitcoin ETF (SBIT) 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 inverse exposure to Bitcoin. SBIT was launched on Apr 2, 2024 and is issued by ProShares.