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

ProShares Bitcoin ETF (NYSEARCA:BITO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $24.40, but opened at $25.34. ProShares Bitcoin ETF shares last traded at $25.34, with a volume of 943,754 shares.

ProShares Bitcoin ETF Trading Up 6.5 %

The company has a fifty day moving average price of $20.66 and a 200-day moving average price of $21.66.

Institutional Trading of ProShares Bitcoin ETF

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in ProShares Bitcoin ETF by 7.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the company’s stock valued at $448,000 after buying an additional 1,642 shares during the period. Means Investment CO. Inc. lifted its holdings in shares of ProShares Bitcoin ETF by 65.5% in the 2nd quarter. Means Investment CO. Inc. now owns 10,985 shares of the company’s stock worth $247,000 after acquiring an additional 4,346 shares during the last quarter. ORG Partners LLC bought a new stake in shares of ProShares Bitcoin ETF in the 2nd quarter worth about $87,000. SIG North Trading ULC purchased a new position in shares of ProShares Bitcoin ETF during the 2nd quarter worth about $1,857,000. Finally, Sanctuary Advisors LLC purchased a new stake in ProShares Bitcoin ETF in the 2nd quarter worth about $659,000.

ProShares Bitcoin 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.