Traders Purchase Large Volume of Call Options on ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) saw unusually large options trading on Thursday. Investors purchased 229,936 call options on the stock. This is an increase of approximately 65% compared to the average volume of 139,098 call options.

ProShares Bitcoin Strategy ETF Stock Up 5.8 %

Shares of ProShares Bitcoin Strategy ETF stock traded up $1.05 during trading on Thursday, reaching $19.24. The company’s stock had a trading volume of 7,036,532 shares, compared to its average volume of 14,422,286. The company has a 50-day simple moving average of $19.91 and a two-hundred day simple moving average of $24.65. ProShares Bitcoin Strategy ETF has a 1-year low of $13.37 and a 1-year high of $33.79.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Several hedge funds have recently added to or reduced their stakes in BITO. Cedar Mountain Advisors LLC boosted its position in ProShares Bitcoin Strategy ETF by 112.7% during the second quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock worth $25,000 after purchasing an additional 594 shares in the last quarter. Natixis acquired a new stake in shares of ProShares Bitcoin Strategy ETF in the first quarter valued at about $40,000. Kings Path Partners LLC purchased a new stake in shares of ProShares Bitcoin Strategy ETF during the second quarter worth about $45,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of ProShares Bitcoin Strategy ETF during the 2nd quarter worth about $57,000. Finally, VitalStone Financial LLC lifted its stake in ProShares Bitcoin Strategy ETF by 450.3% in the 4th quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock valued at $57,000 after buying an additional 2,283 shares in the last quarter.

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.