ProShares Short Bitcoin Strategy ETF Sees Unusually High Options Volume (NYSEARCA:BITI)

ProShares Short Bitcoin Strategy ETF (NYSEARCA:BITI) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 14,056 call options on the company. This represents an increase of approximately 425% compared to the average volume of 2,677 call options.

ProShares Short Bitcoin Strategy ETF Stock Performance

BITI traded up $0.09 during trading on Friday, reaching $7.93. 4,466,592 shares of the stock traded hands, compared to its average volume of 7,333,138. The stock’s 50-day moving average is $7.84 and its 200 day moving average is $8.80. ProShares Short Bitcoin Strategy ETF has a 12 month low of $7.06 and a 12 month high of $22.84.

Hedge Funds Weigh In On ProShares Short Bitcoin Strategy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of ProShares Short Bitcoin Strategy ETF in the 1st quarter worth $3,856,000. AFG Fiduciary Services Limited Partnership raised its holdings in ProShares Short Bitcoin Strategy ETF by 47.7% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 252,794 shares of the company’s stock worth $2,139,000 after buying an additional 81,643 shares during the last quarter. Simplex Trading LLC lifted its stake in shares of ProShares Short Bitcoin Strategy ETF by 71.7% in the first quarter. Simplex Trading LLC now owns 122,656 shares of the company’s stock valued at $906,000 after buying an additional 51,208 shares in the last quarter. Finally, HAP Trading LLC bought a new stake in shares of ProShares Short Bitcoin Strategy ETF during the first quarter worth about $228,000.

About ProShares Short Bitcoin Strategy ETF

The ProShares Trust – ProShares Short Bitcoin Strategy ETF (BITI) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures index. The fund tracks the inverse daily price movements of an index of front-month CME bitcoin futures. It aims to profit from the price decline of bitcoin. BITI was launched on Jun 21, 2022 and is managed by ProShares.