ProShares Short Bitcoin ETF (NYSEARCA:BITI) Stock Price Down 0.6% – What’s Next?

Shares of ProShares Short Bitcoin ETF (NYSEARCA:BITI) traded down 0.6% during mid-day trading on Thursday . The company traded as low as $24.78 and last traded at $24.91. 677,378 shares changed hands during trading, a decline of 63% from the average session volume of 1,823,690 shares. The stock had previously closed at $25.06.

ProShares Short Bitcoin ETF Price Performance

The business has a 50-day moving average of $24.01 and a 200 day moving average of $27.56.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of ProShares Short Bitcoin ETF during the 4th quarter valued at approximately $48,000. Guardian Wealth Advisors LLC NC bought a new stake in shares of ProShares Short Bitcoin ETF in the 4th quarter worth approximately $1,634,000. Two Sigma Securities LLC lifted its stake in shares of ProShares Short Bitcoin ETF by 54.2% in the 4th quarter. Two Sigma Securities LLC now owns 22,934 shares of the company’s stock valued at $550,000 after acquiring an additional 8,058 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter valued at approximately $1,087,000. Finally, Tidal Investments LLC purchased a new stake in ProShares Short Bitcoin ETF during the 3rd quarter valued at $1,825,000.

About ProShares Short Bitcoin ETF

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.