ProShares Bitcoin Strategy ETF Sees Unusually High Options Volume (NYSEARCA:BITO)

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 386,148 call options on the company. This is an increase of approximately 199% compared to the typical daily volume of 129,086 call options.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Several hedge funds have recently made changes to their positions in BITO. Geneos Wealth Management Inc. purchased a new position in ProShares Bitcoin Strategy ETF during the fourth quarter valued at $25,000. Benjamin Edwards Inc. bought a new position in shares of ProShares Bitcoin Strategy ETF in the 4th quarter worth about $37,000. Valley National Advisers Inc. purchased a new position in ProShares Bitcoin Strategy ETF during the 4th quarter valued at about $40,000. VitalStone Financial LLC lifted its position in ProShares Bitcoin Strategy ETF by 450.3% during the 4th quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock valued at $57,000 after acquiring an additional 2,283 shares during the period. Finally, Larson Financial Group LLC boosted its stake in ProShares Bitcoin Strategy ETF by 19.5% during the fourth quarter. Larson Financial Group LLC now owns 3,230 shares of the company’s stock worth $66,000 after acquiring an additional 527 shares in the last quarter.

ProShares Bitcoin Strategy ETF Price Performance

Shares of NYSEARCA:BITO opened at $23.07 on Thursday. The stock has a 50 day moving average price of $29.40 and a 200-day moving average price of $23.29. ProShares Bitcoin Strategy ETF has a 52-week low of $12.79 and a 52-week high of $33.79.

About ProShares Bitcoin Strategy 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.