ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 221,508,021 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 110,761,891 shares.The stock last traded at $8.45 and had previously closed at $8.44.
ProShares Bitcoin ETF Stock Performance
The business has a 50-day moving average of $10.12 and a 200 day moving average of $10.99.
Institutional Trading of ProShares Bitcoin ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC increased its position in ProShares Bitcoin ETF by 174.0% during the 1st quarter. McIlrath & Eck LLC now owns 43,159 shares of the company’s stock worth $402,000 after purchasing an additional 27,405 shares in the last quarter. Paragon Private Wealth Management LLC increased its position in ProShares Bitcoin ETF by 14.2% during the 1st quarter. Paragon Private Wealth Management LLC now owns 19,264 shares of the company’s stock worth $179,000 after purchasing an additional 2,388 shares in the last quarter. Group One Trading LLC increased its position in ProShares Bitcoin ETF by 14.2% during the 1st quarter. Group One Trading LLC now owns 460,289 shares of the company’s stock worth $4,285,000 after purchasing an additional 57,065 shares in the last quarter. Lido Advisors LLC increased its position in ProShares Bitcoin ETF by 79.4% during the 1st quarter. Lido Advisors LLC now owns 19,264 shares of the company’s stock worth $179,000 after purchasing an additional 8,526 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its position in ProShares Bitcoin ETF by 4.7% during the first quarter. Legacy Wealth Managment LLC ID now owns 261,051 shares of the company’s stock worth $2,430,000 after buying an additional 11,627 shares during the period.
ProShares Bitcoin ETF Company Profile
The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.
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