ProShares Short Bitcoin ETF Stock to Reverse Split on Thursday, November 7th (NYSEARCA:BITI)

ProShares Short Bitcoin ETF (NYSEARCA:BITI) shares are going 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 market closes on Wednesday, November 6th.

ProShares Short Bitcoin ETF Stock Down 4.3 %

Shares of NYSEARCA:BITI opened at $6.45 on Wednesday. ProShares Short Bitcoin ETF has a 12 month low of $6.34 and a 12 month high of $16.50. The company has a 50-day moving average price of $7.65 and a 200 day moving average price of $7.86.

Institutional Investors Weigh In On ProShares Short Bitcoin ETF

Several institutional investors have recently modified their holdings of BITI. Advisory Services Network LLC purchased a new stake in ProShares Short Bitcoin ETF during the 1st quarter valued at $3,856,000. AFG Fiduciary Services Limited Partnership boosted its stake in shares of ProShares Short Bitcoin ETF by 47.7% during the 2nd quarter. AFG Fiduciary Services Limited Partnership now owns 252,794 shares of the company’s stock worth $2,139,000 after purchasing an additional 81,643 shares during the period. Headlands Technologies LLC boosted its stake in shares of ProShares Short Bitcoin ETF by 2,694.5% during the 2nd 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, HAP Trading LLC bought a new position in ProShares Short Bitcoin ETF during the 1st quarter valued at about $228,000.

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.