Shares of ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $16.18 and last traded at $16.4020, with a volume of 3527237 shares trading hands. The stock had previously closed at $16.72.
ProShares Bitcoin ETF Stock Down 2.9%
The stock has a 50 day moving average price of $18.94 and a 200-day moving average price of $20.56.
Institutional Investors Weigh In On ProShares Bitcoin ETF
Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new position in shares of ProShares Bitcoin ETF in the second quarter worth about $28,000. ST Germain D J Co. Inc. increased its holdings in shares of ProShares Bitcoin ETF by 55.4% in the 3rd quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Dagco Inc. purchased a new stake in shares of ProShares Bitcoin ETF during the first quarter valued at about $29,000. Cedar Mountain Advisors LLC lifted its position in shares of ProShares Bitcoin ETF by 43.7% during the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after buying an additional 548 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of ProShares Bitcoin ETF by 1,793.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,689 shares of the company’s stock valued at $49,000 after acquiring an additional 2,547 shares in the last quarter.
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.
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