ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Up to $13.57

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) gapped up prior to trading on Monday . The stock had previously closed at $13.57, but opened at $14.02. ProShares Bitcoin Strategy ETF shares last traded at $14.03, with a volume of 1,036,961 shares trading hands.

ProShares Bitcoin Strategy ETF Price Performance

The business’s 50-day moving average price is $14.67 and its 200 day moving average price is $15.56.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in ProShares Bitcoin Strategy ETF by 7.5% during the first quarter. US Bancorp DE now owns 14,393 shares of the company’s stock worth $411,000 after acquiring an additional 1,000 shares during the last quarter. Bank of Montreal Can lifted its position in ProShares Bitcoin Strategy ETF by 36,809.1% during the first quarter. Bank of Montreal Can now owns 81,200 shares of the company’s stock worth $2,397,000 after acquiring an additional 80,980 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in ProShares Bitcoin Strategy ETF during the first quarter worth approximately $10,581,000. Goldman Sachs Group Inc. acquired a new stake in ProShares Bitcoin Strategy ETF during the first quarter worth approximately $2,856,000. Finally, JPMorgan Chase & Co. acquired a new stake in ProShares Bitcoin Strategy ETF during the second quarter worth approximately $2,322,000.

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.