ProShares Short Bitcoin Strategy ETF (NYSEARCA:BITI) Trading 3.8% Higher

ProShares Short Bitcoin Strategy ETF (NYSEARCA:BITI) shares traded up 3.8% on Thursday . The stock traded as high as $7.63 and last traded at $7.59. 8,470,291 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 7,729,489 shares. The stock had previously closed at $7.31.

ProShares Short Bitcoin Strategy ETF Stock Up 3.8 %

The company’s fifty day moving average price is $7.91 and its 200-day moving average price is $10.82.

Hedge Funds Weigh In On ProShares Short Bitcoin Strategy ETF

Several hedge funds have recently bought and sold shares of the business. HAP Trading LLC bought a new stake in ProShares Short Bitcoin Strategy ETF during the 1st quarter valued at $228,000. Advisory Services Network LLC bought a new stake in shares of ProShares Short Bitcoin Strategy ETF in the first quarter valued at about $3,856,000. Simplex Trading LLC raised its holdings in shares of ProShares Short Bitcoin Strategy ETF by 71.7% in the first quarter. Simplex Trading LLC now owns 122,656 shares of the company’s stock valued at $906,000 after acquiring an additional 51,208 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in ProShares Short Bitcoin Strategy ETF by 532.8% in the third quarter. Tower Research Capital LLC TRC now owns 18,856 shares of the company’s stock worth $398,000 after acquiring an additional 15,876 shares during the period.

ProShares Short Bitcoin Strategy ETF Company Profile

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.