ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Trading Down 4%

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) fell 4% during mid-day trading on Wednesday . The stock traded as low as $26.13 and last traded at $26.37. 8,807,178 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 22,815,662 shares. The stock had previously closed at $27.46.

ProShares Bitcoin Strategy ETF Stock Up 1.1 %

The company has a fifty day moving average of $28.81 and a 200-day moving average of $22.39.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Several institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in ProShares Bitcoin Strategy ETF by 19.5% in the 4th quarter. Larson Financial Group LLC now owns 3,230 shares of the company’s stock worth $66,000 after buying an additional 527 shares during the last quarter. Signaturefd LLC lifted its stake in ProShares Bitcoin Strategy ETF by 6.4% in the 3rd quarter. Signaturefd LLC now owns 10,659 shares of the company’s stock worth $147,000 after purchasing an additional 642 shares in the last quarter. US Bancorp DE lifted its stake in ProShares Bitcoin Strategy ETF by 7.5% in the 1st quarter. US Bancorp DE now owns 14,393 shares of the company’s stock worth $411,000 after purchasing an additional 1,000 shares in the last quarter. Betterment LLC lifted its stake in ProShares Bitcoin Strategy ETF by 5.8% in the 1st quarter. Betterment LLC now owns 19,046 shares of the company’s stock worth $334,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its stake in ProShares Bitcoin Strategy ETF by 4.9% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 23,956 shares of the company’s stock worth $226,000 after purchasing an additional 1,129 shares in the last quarter.

ProShares Bitcoin Strategy 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.