Short Interest in Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) Declines By 10.4%

Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 13,800 shares, a decline of 10.4% from the November 15th total of 15,400 shares. Based on an average daily volume of 5,200 shares, the days-to-cover ratio is currently 2.7 days.

Global X Blockchain & Bitcoin Strategy ETF Stock Performance

Shares of Global X Blockchain & Bitcoin Strategy ETF stock traded down $0.88 on Tuesday, reaching $103.50. 2,068 shares of the company’s stock were exchanged, compared to its average volume of 7,316. The company has a market capitalization of $39.33 million, a P/E ratio of -204.67 and a beta of 2.23. Global X Blockchain & Bitcoin Strategy ETF has a 52 week low of $42.51 and a 52 week high of $106.93. The firm’s 50-day moving average is $84.69 and its two-hundred day moving average is $72.59.

Institutional Investors Weigh In On Global X Blockchain & Bitcoin Strategy ETF

An institutional investor recently bought a new position in Global X Blockchain & Bitcoin Strategy ETF stock. Flow Traders U.S. LLC bought a new position in Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period. 24.54% of the stock is owned by institutional investors and hedge funds.

Global X Blockchain & Bitcoin Strategy ETF Company Profile

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.