ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Up 4.6%

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)’s share price rose 4.6% on Thursday . The stock traded as high as $28.02 and last traded at $27.87. Approximately 3,978,422 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 22,651,242 shares. The stock had previously closed at $26.64.

ProShares Bitcoin Strategy ETF Stock Performance

The firm has a 50 day moving average price of $28.69 and a 200-day moving average price of $22.35.

Hedge Funds Weigh In On ProShares Bitcoin Strategy ETF

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE increased its position in ProShares Bitcoin Strategy ETF by 7.5% during the 1st quarter. US Bancorp DE now owns 14,393 shares of the company’s stock worth $411,000 after purchasing an additional 1,000 shares in the last quarter. Bank of Montreal Can boosted its position in ProShares Bitcoin Strategy ETF by 36,809.1% during the first quarter. Bank of Montreal Can now owns 81,200 shares of the company’s stock worth $2,397,000 after acquiring an additional 80,980 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in ProShares Bitcoin Strategy ETF in the 1st quarter worth approximately $10,581,000. Goldman Sachs Group Inc. acquired a new position in ProShares Bitcoin Strategy ETF in the first quarter valued at $2,856,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of ProShares Bitcoin Strategy ETF during the 2nd quarter valued at about $2,322,000.

About ProShares Bitcoin Strategy 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.