ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO) gapped up prior to trading on Thursday . The stock had previously closed at $22.78, but opened at $23.56. ProShares Bitcoin ETF shares last traded at $23.75, with a volume of 2,637,365 shares trading hands.

ProShares Bitcoin ETF Stock Up 1.1 %

The firm’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $21.31.

Institutional Trading of ProShares Bitcoin ETF

Large investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of ProShares Bitcoin ETF by 1,200.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock worth $25,000 after buying an additional 1,200 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of ProShares Bitcoin ETF in the 3rd quarter valued at about $28,000. Hantz Financial Services Inc. grew its position in ProShares Bitcoin ETF by 408.4% in the third quarter. Hantz Financial Services Inc. now owns 1,459 shares of the company’s stock worth $28,000 after acquiring an additional 1,172 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in ProShares Bitcoin ETF during the third quarter worth approximately $29,000. Finally, Cedar Mountain Advisors LLC raised its position in ProShares Bitcoin ETF by 57.8% during the third quarter. Cedar Mountain Advisors LLC now owns 1,769 shares of the company’s stock valued at $34,000 after purchasing an additional 648 shares during the period.

About ProShares Bitcoin 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.