ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.20 and traded as low as $12.32. ProShares Ultra Bitcoin ETF shares last traded at $12.51, with a volume of 3,321,730 shares trading hands.
ProShares Ultra Bitcoin ETF Stock Down 10.4%
The firm’s 50 day simple moving average is $14.36 and its 200 day simple moving average is $13.20.
Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF
Several large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in ProShares Ultra Bitcoin ETF during the third quarter valued at approximately $982,000. EverSource Wealth Advisors LLC grew its holdings in ProShares Ultra Bitcoin ETF by 15.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 57,139 shares of the company’s stock valued at $665,000 after buying an additional 7,452 shares in the last quarter. Turner Financial Group Inc. bought a new stake in ProShares Ultra Bitcoin ETF in the 2nd quarter worth approximately $633,000. Strive Financial Group LLC bought a new stake in ProShares Ultra Bitcoin ETF in the 2nd quarter worth approximately $366,000. Finally, IMC Chicago LLC bought a new stake in ProShares Ultra Bitcoin ETF in the 1st quarter worth approximately $311,000.
About ProShares Ultra Bitcoin ETF
The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.
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