ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $22.05 and last traded at $21.8330, with a volume of 976026 shares traded. The stock had previously closed at $27.96.
ProShares Ultra Bitcoin ETF Stock Down 21.7%
The stock’s fifty day simple moving average is $36.64 and its 200-day simple moving average is $48.63.
Institutional Trading of ProShares Ultra Bitcoin ETF
Several hedge funds have recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC bought a new position in ProShares Ultra Bitcoin ETF in the 1st quarter valued at $120,000. Simplex Trading LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF in the second quarter valued at about $797,000. Mutual Advisors LLC raised its position in ProShares Ultra Bitcoin ETF by 9.0% during the 2nd quarter. Mutual Advisors LLC now owns 17,592 shares of the company’s stock valued at $910,000 after purchasing an additional 1,459 shares during the last quarter. Toth Financial Advisory Corp grew its position in shares of ProShares Ultra Bitcoin ETF by 1,333.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 10,080 shares of the company’s stock worth $522,000 after buying an additional 9,377 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of ProShares Ultra Bitcoin ETF by 13.0% in the 2nd quarter. Bleakley Financial Group LLC now owns 30,245 shares of the company’s stock worth $1,565,000 after purchasing an additional 3,478 shares during the period.
About ProShares Ultra Bitcoin ETF
The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.
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