ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Up to $22.27

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $22.27, but opened at $23.07. ProShares Bitcoin Strategy ETF shares last traded at $22.96, with a volume of 725,674 shares trading hands.

ProShares Bitcoin Strategy ETF Stock Down 1.7 %

The company’s 50 day simple moving average is $26.26 and its two-hundred day simple moving average is $25.47.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Several institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC lifted its stake in shares of ProShares Bitcoin Strategy ETF by 14.6% during the third quarter. Kestra Advisory Services LLC now owns 20,274 shares of the company’s stock worth $280,000 after buying an additional 2,586 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the third quarter worth $2,204,000. Revisor Wealth Management LLC acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the third quarter worth $348,000. EisnerAmper Wealth Management Corporate Benefits LLC acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the fourth quarter worth $275,000. Finally, Interchange Capital Partners LLC acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the fourth quarter worth $132,000.

ProShares Bitcoin Strategy ETF Company 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.