ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Down – What’s Next?

ProShares Bitcoin ETF (NYSEARCA:BITO) shares gapped down prior to trading on Monday . The stock had previously closed at $18.87, but opened at $18.46. ProShares Bitcoin ETF shares last traded at $18.45, with a volume of 1,770,142 shares trading hands.

ProShares Bitcoin ETF Price Performance

The company has a 50-day moving average of $22.12 and a 200-day moving average of $21.69.

Institutional Investors Weigh In On ProShares Bitcoin ETF

Several institutional investors have recently bought and sold shares of BITO. Thrivent Financial for Lutherans lifted its stake in ProShares Bitcoin ETF by 54.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,829 shares of the company’s stock valued at $285,000 after acquiring an additional 5,206 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in ProShares Bitcoin ETF by 10.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 21,470 shares of the company’s stock valued at $412,000 after acquiring an additional 2,000 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of ProShares Bitcoin ETF by 408.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,459 shares of the company’s stock worth $28,000 after purchasing an additional 1,172 shares in the last quarter. Encompass More Asset Management bought a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter worth approximately $427,000. Finally, Garden State Investment Advisory Services LLC bought a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter worth approximately $252,000.

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.