ProShares Short Bitcoin ETF (NYSEARCA:BITI) Trading Down 1.3% – Time to Sell?

ProShares Short Bitcoin ETF (NYSEARCA:BITIGet Free Report)’s share price dropped 1.3% during mid-day trading on Friday . The stock traded as low as $20.75 and last traded at $21.23. Approximately 2,215,291 shares changed hands during trading, an increase of 6% from the average daily volume of 2,081,752 shares. The stock had previously closed at $21.52.

ProShares Short Bitcoin ETF Trading Down 1.3 %

The company’s fifty day moving average price is $22.95 and its 200 day moving average price is $32.44.

Hedge Funds Weigh In On ProShares Short Bitcoin ETF

A hedge fund recently bought a new stake in ProShares Short Bitcoin ETF stock. Tidal Investments LLC bought a new stake in shares of ProShares Short Bitcoin ETF (NYSEARCA:BITIFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 245,250 shares of the company’s stock, valued at approximately $1,825,000. Tidal Investments LLC owned 2.07% of ProShares Short Bitcoin ETF as of its most recent SEC filing.

About ProShares Short Bitcoin ETF

(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.

See Also

Receive News & Ratings for ProShares Short Bitcoin ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares Short Bitcoin ETF and related companies with MarketBeat.com's FREE daily email newsletter.