ProShares Short Bitcoin ETF (NYSEARCA:BITI) Shares Down 4.3% – Here’s Why

Posted by ABMN Staff on Jan 3rd, 2025

ProShares Short Bitcoin ETF (NYSEARCA:BITI – Get Free Report)’s share price were down 4.3% on Thursday . The company traded as low as $22.82 and last traded at $22.97. Approximately 2,012,507 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 1,722,606 shares. The stock had previously closed at $24.00.

ProShares Short Bitcoin ETF Stock Down 4.3 %

The firm’s 50-day moving average is $25.56 and its two-hundred day moving average is $34.61.

Institutional Trading of ProShares Short Bitcoin ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in shares of ProShares Short Bitcoin ETF during the 3rd quarter valued at $1,825,000. Headlands Technologies LLC grew its stake in shares of ProShares Short Bitcoin ETF by 2,694.5% during the second quarter. Headlands Technologies LLC now owns 36,748 shares of the company’s stock worth $311,000 after purchasing an additional 35,433 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of ProShares Short Bitcoin ETF by 95.3% during the third quarter. Brown Brothers Harriman & Co. now owns 24,653 shares of the company’s stock worth $184,000 after purchasing an additional 12,027 shares during the period.

ProShares Short Bitcoin ETF Company Profile

(Get Free Report)

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.