Pinnacle Wealth Management LLC acquired a new position in shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 136,330 shares of the company’s stock, valued at approximately $2,315,000. ProShares Bitcoin Strategy ETF accounts for 2.3% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 12th largest position. Pinnacle Wealth Management LLC owned about 0.19% of ProShares Bitcoin Strategy ETF at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Impact Partnership Wealth LLC purchased a new position in shares of ProShares Bitcoin Strategy ETF in the second quarter valued at approximately $2,482,000. Nkcfo LLC boosted its stake in ProShares Bitcoin Strategy ETF by 11.9% during the 2nd quarter. Nkcfo LLC now owns 47,000 shares of the company’s stock worth $798,000 after purchasing an additional 5,000 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in ProShares Bitcoin Strategy ETF during the 2nd quarter worth $1,332,000. Cowen AND Company LLC purchased a new stake in shares of ProShares Bitcoin Strategy ETF during the first quarter worth $471,000. Finally, QCM Cayman Ltd. acquired a new stake in shares of ProShares Bitcoin Strategy ETF in the second quarter valued at about $393,000.
ProShares Bitcoin Strategy ETF Stock Performance
Shares of NYSEARCA:BITO traded up $0.27 during midday trading on Friday, hitting $18.38. The company’s stock had a trading volume of 13,279,970 shares, compared to its average volume of 10,222,146. ProShares Bitcoin Strategy ETF has a 12-month low of $9.48 and a 12-month high of $19.23. The business’s 50 day simple moving average is $15.45 and its 200 day simple moving average is $15.36.
ProShares Bitcoin Strategy ETF 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.
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