Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) Sees Large Drop in Short Interest

Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 15,400 shares, a decrease of 36.9% from the October 31st total of 24,400 shares. Based on an average daily trading volume, of 4,500 shares, the days-to-cover ratio is currently 3.4 days.

Global X Blockchain & Bitcoin Strategy ETF Stock Performance

BITS traded up $7.35 on Thursday, hitting $98.59. 7,101 shares of the company were exchanged, compared to its average volume of 7,180. Global X Blockchain & Bitcoin Strategy ETF has a fifty-two week low of $42.51 and a fifty-two week high of $100.08. The business’s fifty day moving average is $75.59 and its 200 day moving average is $69.53. The firm has a market capitalization of $37.46 million, a P/E ratio of -193.31 and a beta of 2.23.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Global X Blockchain & Bitcoin Strategy ETF stock. Flow Traders U.S. LLC bought a new position in shares of Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,024 shares of the company’s stock, valued at approximately $394,000. Flow Traders U.S. LLC owned about 1.59% of Global X Blockchain & Bitcoin Strategy ETF as of its most recent SEC filing. Hedge funds and other institutional investors own 24.54% of the company’s stock.

About Global X Blockchain & Bitcoin Strategy ETF

The Global X Blockchain & Bitcoin Strategy ETF (BITS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund that aims to capture the long-term growth potential of blockchain companies and bitcoin futures. BITS was launched on Nov 15, 2021 and is managed by Global X.