ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Down to $20.17

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $20.17, but opened at $19.41. ProShares Bitcoin Strategy ETF shares last traded at $19.25, with a volume of 2,423,810 shares.

ProShares Bitcoin Strategy ETF Trading Down 6.2 %

The business’s fifty day moving average price is $21.23 and its 200-day moving average price is $25.49.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BITO. Cedar Mountain Advisors LLC grew its stake in shares of ProShares Bitcoin Strategy ETF by 112.7% during the second quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after buying an additional 594 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of ProShares Bitcoin Strategy ETF during the fourth quarter valued at about $37,000. Natixis bought a new position in shares of ProShares Bitcoin Strategy ETF during the first quarter valued at about $40,000. Kings Path Partners LLC bought a new position in shares of ProShares Bitcoin Strategy ETF during the second quarter valued at about $45,000. Finally, VitalStone Financial LLC grew its stake in shares of ProShares Bitcoin Strategy ETF by 450.3% during the fourth quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock valued at $57,000 after buying an additional 2,283 shares during 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.