ProShares Bitcoin ETF (NYSEARCA:BITO) Stock Price Up 4.7% – Here’s What Happened

by · The Cerbat Gem

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) shot up 4.7% during trading on Tuesday . The stock traded as high as $20.74 and last traded at $20.72. 8,721,666 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 13,580,356 shares. The stock had previously closed at $19.79.

ProShares Bitcoin ETF Trading Up 5.5 %

The firm’s fifty day simple moving average is $18.62 and its 200 day simple moving average is $22.19.

Institutional Trading of ProShares Bitcoin ETF

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its stake in ProShares Bitcoin ETF by 170.8% during the first quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock valued at $618,695,000 after purchasing an additional 12,081,007 shares in the last quarter. Sylebra Capital LLC bought a new position in shares of ProShares Bitcoin ETF in the 1st quarter valued at about $24,996,000. Whitebox Advisors LLC grew its position in ProShares Bitcoin ETF by 8.2% in the second quarter. Whitebox Advisors LLC now owns 582,170 shares of the company’s stock worth $13,105,000 after acquiring an additional 44,170 shares in the last quarter. United Capital Management of KS Inc. increased its stake in ProShares Bitcoin ETF by 2.8% during the second quarter. United Capital Management of KS Inc. now owns 420,885 shares of the company’s stock worth $9,474,000 after acquiring an additional 11,340 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in ProShares Bitcoin ETF by 308.6% during the first quarter. Proficio Capital Partners LLC now owns 249,695 shares of the company’s stock worth $8,065,000 after acquiring an additional 188,580 shares during the last quarter.

ProShares Bitcoin ETF Company Profile

(Get Free Report)

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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