ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report)’s stock price shot up 8.9% during trading on Thursday . The stock traded as high as $14.38 and last traded at $14.4990. 1,948,062 shares traded hands during trading, a decline of 61% from the average daily volume of 5,019,271 shares. The stock had previously closed at $13.31.
ProShares Ultra Bitcoin ETF Stock Up 9.9%
The company has a 50 day moving average of $10.16 and a 200-day moving average of $11.81.
Hedge Funds Weigh In On ProShares Ultra Bitcoin ETF
Hedge funds have recently made changes to their positions in the business. DRW Securities LLC boosted its holdings in ProShares Ultra Bitcoin ETF by 1,133.6% in the fourth quarter. DRW Securities LLC now owns 261,525 shares of the company’s stock valued at $5,777,000 after acquiring an additional 240,324 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of ProShares Ultra Bitcoin ETF by 1,627.7% in the 4th quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock worth $3,168,000 after purchasing an additional 135,100 shares during the period. Turner Financial Group Inc. bought a new stake in shares of ProShares Ultra Bitcoin ETF during the 2nd quarter valued at about $633,000. Strive Financial Group LLC bought a new stake in shares of ProShares Ultra Bitcoin ETF during the 2nd quarter valued at about $366,000. Finally, IMC Chicago LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF during the first quarter valued at about $311,000.
ProShares Ultra Bitcoin ETF Company Profile
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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