ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Trading 6.2% Higher

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO – Get Rating) traded up 6.2% during mid-day trading on Friday . The stock traded as high as $16.47 and last traded at $16.37. 3,239,441 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 10,296,481 shares. The stock had previously closed at $15.41.

ProShares Bitcoin Strategy ETF Price Performance

The firm’s fifty day moving average price is $14.09 and its 200-day moving average price is $12.30.

Hedge Funds Weigh In On ProShares Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC acquired a new position in ProShares Bitcoin Strategy ETF in the 4th quarter worth $173,000. Captrust Financial Advisors acquired a new position in ProShares Bitcoin Strategy ETF in the 4th quarter worth $138,000. IHT Wealth Management LLC bought a new stake in ProShares Bitcoin Strategy ETF during the 4th quarter worth about $1,179,000. Ambassador Advisors LLC bought a new stake in ProShares Bitcoin Strategy ETF during the 4th quarter worth about $14,743,000. Finally, Laurel Wealth Advisors Inc. lifted its position in ProShares Bitcoin Strategy ETF by 4.9% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 23,956 shares of the company’s stock worth $226,000 after buying an additional 1,129 shares in the last quarter.

ProShares Bitcoin Strategy ETF Company Profile

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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.