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

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

Global X Blockchain & Bitcoin Strategy ETF Stock Performance

BITS stock traded up $3.86 during midday trading on Monday, hitting $74.88. 6,848 shares of the company’s stock were exchanged, compared to its average volume of 7,156. Global X Blockchain & Bitcoin Strategy ETF has a one year low of $37.57 and a one year high of $78.76. The company has a market cap of $27.71 million, a PE ratio of -146.82 and a beta of 2.23. The stock’s fifty day moving average price is $63.97 and its 200-day moving average price is $65.74.

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.