Forte Asset Management LLC Lowers Stock Position in ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)

Forte Asset Management LLC cut its position in shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) by 41.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,877 shares of the company’s stock after selling 69,075 shares during the period. ProShares Bitcoin Strategy ETF accounts for 1.3% of Forte Asset Management LLC’s holdings, making the stock its 25th biggest position. Forte Asset Management LLC owned about 0.13% of ProShares Bitcoin Strategy ETF worth $1,965,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in ProShares Bitcoin Strategy ETF by 7.5% during the first quarter. US Bancorp DE now owns 14,393 shares of the company’s stock valued at $411,000 after purchasing an additional 1,000 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of ProShares Bitcoin Strategy ETF by 36,809.1% in the first quarter. Bank of Montreal Can now owns 81,200 shares of the company’s stock worth $2,397,000 after buying an additional 80,980 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of ProShares Bitcoin Strategy ETF in the first quarter worth about $10,581,000. Goldman Sachs Group Inc. purchased a new position in shares of ProShares Bitcoin Strategy ETF in the first quarter worth about $2,856,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of ProShares Bitcoin Strategy ETF in the second quarter worth about $2,322,000.

ProShares Bitcoin Strategy ETF Stock Performance

Shares of NYSEARCA:BITO traded up $0.47 during midday trading on Friday, hitting $28.24. The company’s stock had a trading volume of 4,670,630 shares, compared to its average volume of 22,484,816. The business’s 50 day simple moving average is $28.81 and its 200 day simple moving average is $22.39. ProShares Bitcoin Strategy ETF has a 12-month low of $12.79 and a 12-month high of $33.79.

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.