ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $24.40, but opened at $25.34. ProShares Bitcoin ETF shares last traded at $25.34, with a volume of 943,754 shares trading hands.
ProShares Bitcoin ETF Stock Up 6.5 %
The company’s fifty day moving average is $20.66 and its 200-day moving average is $21.66.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BITO. Cedar Mountain Advisors LLC raised its stake in ProShares Bitcoin ETF by 112.7% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after purchasing an additional 594 shares during the period. Thrive Wealth Management LLC raised its position in shares of ProShares Bitcoin ETF by 16.6% during the second quarter. Thrive Wealth Management LLC now owns 10,290 shares of the company’s stock valued at $232,000 after buying an additional 1,464 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of ProShares Bitcoin ETF by 5.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 40,331 shares of the company’s stock worth $908,000 after buying an additional 2,036 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ProShares Bitcoin ETF by 6.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,723 shares of the company’s stock worth $489,000 after buying an additional 1,300 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of ProShares Bitcoin ETF during the second quarter worth $87,000.
About ProShares Bitcoin ETF
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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