Investors Purchase High Volume of Call Options on ProShares Bitcoin ETF (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Thursday. Stock traders acquired 251,944 call options on the stock. This represents an increase of 52% compared to the typical daily volume of 165,547 call options.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Cedar Mountain Advisors LLC raised its position in shares of ProShares Bitcoin ETF by 112.7% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock worth $25,000 after purchasing an additional 594 shares during the last quarter. Natixis purchased a new position in ProShares Bitcoin ETF in the first quarter worth about $40,000. Hexagon Capital Partners LLC lifted its stake in shares of ProShares Bitcoin ETF by 1,200.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock worth $25,000 after buying an additional 1,200 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of ProShares Bitcoin ETF during the third quarter valued at approximately $28,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of ProShares Bitcoin ETF by 408.4% during the third quarter. Hantz Financial Services Inc. now owns 1,459 shares of the company’s stock valued at $28,000 after buying an additional 1,172 shares during the last quarter.

ProShares Bitcoin ETF Stock Up 4.0 %

Shares of NYSEARCA:BITO traded up $1.01 during midday trading on Thursday, reaching $26.43. The company’s stock had a trading volume of 20,714,211 shares, compared to its average volume of 13,887,123. The firm has a 50 day moving average of $19.74 and a 200-day moving average of $21.61. ProShares Bitcoin ETF has a 12-month low of $16.11 and a 12-month high of $33.79.

ProShares Bitcoin 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.