ProShares Bitcoin ETF (NYSEARCA:BITO) Hits New 1-Year Low – Here’s Why

ProShares Bitcoin ETF (NYSEARCA:BITO) reached a new 52-week low during trading on Thursday . The company traded as low as $11.67 and last traded at $11.7020, with a volume of 25270266 shares. The stock had previously closed at $12.34.

ProShares Bitcoin ETF Price Performance

The stock’s 50-day simple moving average is $12.95 and its two-hundred day simple moving average is $17.25.

Institutional Investors Weigh In On ProShares Bitcoin ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Acorns Advisers LLC boosted its stake in shares of ProShares Bitcoin ETF by 16.5% in the third quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock worth $90,060,000 after acquiring an additional 647,924 shares during the period. Tidal Investments LLC lifted its holdings in shares of ProShares Bitcoin ETF by 139.3% in the third quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after buying an additional 530,987 shares in the last quarter. RK Capital Management LLC FL boosted its position in shares of ProShares Bitcoin ETF by 374.5% during the second quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock worth $17,931,000 after acquiring an additional 657,910 shares during the last quarter. Faithward Advisors LLC grew its stake in ProShares Bitcoin ETF by 3.0% during the second quarter. Faithward Advisors LLC now owns 785,517 shares of the company’s stock valued at $16,896,000 after acquiring an additional 23,237 shares in the last quarter. Finally, Fielder Capital Group LLC increased its holdings in ProShares Bitcoin ETF by 14.5% in the 3rd quarter. Fielder Capital Group LLC now owns 508,475 shares of the company’s stock valued at $10,007,000 after acquiring an additional 64,525 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.