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

by · The Cerbat Gem

ProShares Short Bitcoin ETF (NYSEARCA:BITI – Get Free Report)’s share price fell 4.3% on Tuesday . The company traded as low as $6.34 and last traded at $6.45. 24,051,012 shares traded hands during trading, an increase of 203% from the average session volume of 7,933,163 shares. The stock had previously closed at $6.74.

ProShares Short Bitcoin ETF Trading Up 2.8 %

The stock has a 50-day moving average price of $7.60 and a two-hundred day moving average price of $7.84.

ProShares Short Bitcoin ETF shares are set to reverse split on the morning of Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 6th.

Institutional Trading of ProShares Short Bitcoin ETF

Several institutional investors have recently added to or reduced their stakes in BITI. HAP Trading LLC purchased a new position in ProShares Short Bitcoin ETF during the first quarter valued at approximately $228,000. Headlands Technologies LLC increased its holdings in 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 valued at $311,000 after buying an additional 35,433 shares during the period. AFG Fiduciary Services Limited Partnership increased its holdings in ProShares Short Bitcoin ETF by 47.7% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 252,794 shares of the company’s stock valued at $2,139,000 after buying an additional 81,643 shares during the period. Finally, Advisory Services Network LLC purchased a new position in ProShares Short Bitcoin ETF during the first quarter valued at approximately $3,856,000.

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.

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