ProShares Bitcoin ETF Target of Unusually Large Options Trading (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw unusually large options trading activity on Thursday. Stock investors purchased 1,652,211 call options on the stock. This represents an increase of approximately 1,123% compared to the average daily volume of 135,103 call options.

ProShares Bitcoin ETF Stock Down 2.8 %

ProShares Bitcoin ETF stock traded down $0.58 during mid-day trading on Thursday, reaching $19.88. The company’s stock had a trading volume of 11,605,288 shares, compared to its average volume of 13,605,058. ProShares Bitcoin ETF has a 12-month low of $16.11 and a 12-month high of $33.79. The firm’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $22.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its stake in ProShares Bitcoin ETF by 12.9% in the first quarter. Oppenheimer & Co. Inc. now owns 11,979 shares of the company’s stock worth $387,000 after purchasing an additional 1,373 shares during the last quarter. Natixis bought a new stake in ProShares Bitcoin ETF in the first quarter worth $40,000. CreativeOne Wealth LLC bought a new stake in ProShares Bitcoin ETF in the first quarter worth $217,000. Toronto Dominion Bank bought a new stake in ProShares Bitcoin ETF in the first quarter worth $484,000. Finally, Means Investment CO. Inc. lifted its stake in ProShares Bitcoin ETF by 65.5% in the second quarter. Means Investment CO. Inc. now owns 10,985 shares of the company’s stock worth $247,000 after purchasing an additional 4,346 shares during the last quarter.

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.