SBIT Stock Summary and Trading Ideas (ProShares Ultrashort Bitcoin ETF | ARCA:SBIT)

ProShares UltraShort Bitcoin ETF seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Bloomberg Bitcoin Index. The Bloomberg Bitcoin Index is designed to measure the performance of a single bitcoin traded in USD and seeks to provide a proxy for the bitcoin market. The Index price is a composite of U.S. dollar-bitcoin trading activity on certain digital asset trading platforms which have been evaluated based on criteria including governance, liquidity, and data integrity.

ProShares Ultrashort Bitcoin ETF trades on the ARCA stock market under the symbol SBIT.

As of May 8, 2024, SBIT stock price climbed to $45.60 with 59,304 million shares trading.

SBIT has a market cap of $10.94 million. This is considered a Sub-Micro Cap stock.

SBIT support price is $42.36 and resistance is $47.61 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SBIT stock will trade within this expected range on the day.