ProShares Short Bitcoin ETF (NYSEARCA:BITI – Get Free Report) fell 4.1% during mid-day trading on Wednesday . The stock traded as low as $24.36 and last traded at $24.39. 1,627,470 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 1,887,408 shares. The stock had previously closed at $25.42.
ProShares Short Bitcoin ETF Trading Down 4.1 %
The firm’s fifty day moving average price is $23.12 and its 200-day moving average price is $29.21.
Institutional Investors Weigh In On ProShares Short Bitcoin ETF
A number of institutional investors have recently added to or reduced their stakes in BITI. Newbridge Financial Services Group Inc. acquired a new stake in ProShares Short Bitcoin ETF during the fourth quarter worth $48,000. Brown Brothers Harriman & Co. lifted its holdings in shares of ProShares Short Bitcoin ETF by 95.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 24,653 shares of the company’s stock worth $184,000 after acquiring an additional 12,027 shares during the period. Two Sigma Securities LLC boosted its position in shares of ProShares Short Bitcoin ETF by 54.2% during 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 in the last quarter. Tower Research Capital LLC TRC bought a new stake in ProShares Short Bitcoin ETF in the fourth quarter valued at about $1,087,000. Finally, Guardian Wealth Advisors LLC NC acquired a new position in ProShares Short Bitcoin ETF in the fourth quarter worth about $1,634,000.
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.
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