ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Up to $16.19

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $16.19, but opened at $16.82. ProShares Bitcoin Strategy ETF shares last traded at $16.84, with a volume of 672,311 shares traded.

ProShares Bitcoin Strategy ETF Stock Performance

The business’s 50-day moving average is $20.21 and its 200-day moving average is $25.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC increased its holdings 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 acquiring an additional 594 shares in the last quarter. Natixis purchased a new position in ProShares Bitcoin Strategy ETF in the 1st quarter worth approximately $40,000. Kings Path Partners LLC bought a new position in ProShares Bitcoin Strategy ETF in the 2nd quarter valued at approximately $45,000. VitalStone Financial LLC boosted its stake in ProShares Bitcoin Strategy ETF by 450.3% during the 4th quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock valued at $57,000 after purchasing an additional 2,283 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of ProShares Bitcoin Strategy ETF in the second quarter worth $57,000.

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.