ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders acquired 251,944 call options on the company. This represents an increase of 52% compared to the average daily volume of 165,547 call options.
Institutional Trading of ProShares Bitcoin ETF
A number of hedge funds have recently made changes to their positions in BITO. Natixis purchased a new position in shares of ProShares Bitcoin ETF in the first quarter valued at about $40,000. CreativeOne Wealth LLC bought a new stake in shares of ProShares Bitcoin ETF in the 1st quarter worth approximately $217,000. Toronto Dominion Bank purchased a new position in shares of ProShares Bitcoin ETF during the first quarter valued at approximately $484,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of ProShares Bitcoin ETF by 7.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the company’s stock valued at $448,000 after acquiring an additional 1,642 shares in the last quarter. 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 acquiring an additional 4,346 shares during the period.
ProShares Bitcoin ETF Price Performance
NYSEARCA:BITO traded up $1.01 during mid-day trading on Thursday, hitting $26.43. 20,714,211 shares of the stock traded hands, compared to its average volume of 13,887,123. The business’s 50-day moving average price is $19.74 and its 200 day moving average price is $21.61. ProShares Bitcoin ETF has a 12-month low of $16.11 and a 12-month high of $33.79.
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.
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