Shares of ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) saw unusually-strong trading volume on Monday . Approximately 181,679,871 shares changed hands during mid-day trading, an increase of 42% from the previous session’s volume of 128,118,930 shares.The stock last traded at $8.61 and had previously closed at $8.34.
ProShares Bitcoin ETF Price Performance
The company’s fifty day moving average price is $9.59 and its 200 day moving average price is $10.34.
Hedge Funds Weigh In On ProShares Bitcoin ETF
Several institutional investors have recently made changes to their positions in BITO. HighTower Advisors LLC boosted its position in ProShares Bitcoin ETF by 1,197.5% during the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock valued at $4,817,000 after purchasing an additional 365,596 shares during the period. PFG Investments LLC increased its position in ProShares Bitcoin ETF by 202.1% in the fourth quarter. PFG Investments LLC now owns 223,221 shares of the company’s stock worth $2,714,000 after buying an additional 149,342 shares during the period. Fielder Capital Group LLC increased its position in ProShares Bitcoin ETF by 22.5% in the fourth quarter. Fielder Capital Group LLC now owns 623,036 shares of the company’s stock worth $7,576,000 after buying an additional 114,561 shares during the period. Acorns Advisers LLC lifted its stake in ProShares Bitcoin ETF by 16.5% in the third quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock valued at $90,060,000 after buying an additional 647,924 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its stake in ProShares Bitcoin ETF by 174.0% in the first quarter. McIlrath & Eck LLC now owns 43,159 shares of the company’s stock valued at $402,000 after buying an additional 27,405 shares during the last quarter.
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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