ProShares Bitcoin ETF (NYSEARCA:BITO) Hits New 52-Week Low – Here’s Why

ProShares Bitcoin ETF (NYSEARCA:BITO)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $12.69 and last traded at $12.6950, with a volume of 4768868 shares trading hands. The stock had previously closed at $14.20.

ProShares Bitcoin ETF Stock Performance

The firm has a 50 day moving average price of $17.36 and a 200 day moving average price of $19.89.

Institutional Investors Weigh In On ProShares Bitcoin ETF

Several large investors have recently modified their holdings of BITO. Interchange Capital Partners LLC raised its holdings in shares of ProShares Bitcoin ETF by 3.2% in the second quarter. Interchange Capital Partners LLC now owns 14,658 shares of the company’s stock worth $315,000 after buying an additional 455 shares during the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of ProShares Bitcoin ETF by 55.4% during the third quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after buying an additional 521 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of ProShares Bitcoin ETF by 6.3% during the first quarter. Blair William & Co. IL now owns 9,280 shares of the company’s stock valued at $170,000 after buying an additional 547 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in shares of ProShares Bitcoin ETF by 43.7% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after acquiring an additional 548 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in ProShares Bitcoin ETF by 10.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,039 shares of the company’s stock worth $111,000 after acquiring an additional 565 shares during 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.