ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Down to $19.80

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) gapped down prior to trading on Monday . The stock had previously closed at $19.80, but opened at $19.37. ProShares Bitcoin Strategy ETF shares last traded at $19.03, with a volume of 1,856,864 shares changing hands.

ProShares Bitcoin Strategy ETF Price Performance

The business’s 50-day simple moving average is $22.70 and its two-hundred day simple moving average is $25.58.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Several institutional investors and hedge funds have recently made changes to their positions in BITO. Jane Street Group LLC raised its stake in ProShares Bitcoin Strategy ETF by 170.8% during the first quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock worth $618,695,000 after buying an additional 12,081,007 shares during the last quarter. Simplex Trading LLC raised its position in shares of ProShares Bitcoin Strategy ETF by 51.9% in the 1st quarter. Simplex Trading LLC now owns 906,491 shares of the company’s stock worth $29,279,000 after acquiring an additional 309,754 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of ProShares Bitcoin Strategy ETF in the 1st quarter valued at about $24,996,000. Whitebox Advisors LLC boosted its position in shares of ProShares Bitcoin Strategy ETF by 41.6% during the 1st quarter. Whitebox Advisors LLC now owns 538,000 shares of the company’s stock valued at $17,377,000 after purchasing an additional 158,175 shares in the last quarter. Finally, United Capital Management of KS Inc. boosted its position in shares of ProShares Bitcoin Strategy ETF by 2.8% during the 2nd quarter. United Capital Management of KS Inc. now owns 420,885 shares of the company’s stock valued at $9,474,000 after purchasing an additional 11,340 shares in the last quarter.

ProShares Bitcoin Strategy 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.