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

Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 25,400 shares, a decrease of 25.7% from the September 30th total of 34,200 shares. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is currently 7.7 days.

Global X Blockchain & Bitcoin Strategy ETF Stock Performance

BITS traded down $1.58 during midday trading on Friday, reaching $71.02. 2,029 shares of the company were exchanged, compared to its average volume of 7,158. The stock has a market capitalization of $26.28 million, a P/E ratio of -139.26 and a beta of 2.23. The stock’s 50-day simple moving average is $63.97 and its 200 day simple moving average is $65.74. Global X Blockchain & Bitcoin Strategy ETF has a one year low of $37.10 and a one year high of $78.76.

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.