ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – What’s Next?

ProShares Bitcoin ETF (NYSEARCA:BITO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $9.21, but opened at $9.54. ProShares Bitcoin ETF shares last traded at $9.51, with a volume of 11,101,869 shares trading hands.

ProShares Bitcoin ETF Stock Performance

The firm has a 50-day moving average price of $9.79 and a 200-day moving average price of $13.46.

ProShares Bitcoin ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were issued a dividend of $0.0143 per share. This represents a c) dividend on an annualized basis and a yield of 1.8%. This is a boost from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. The ex-dividend date was Monday, March 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. purchased a new position in ProShares Bitcoin ETF in the second quarter valued at approximately $991,000. Fielder Capital Group LLC lifted its position in shares of ProShares Bitcoin ETF by 14.5% during the 3rd quarter. Fielder Capital Group LLC now owns 508,475 shares of the company’s stock valued at $10,007,000 after buying an additional 64,525 shares during the last quarter. Acorns Advisers LLC boosted its stake in ProShares Bitcoin ETF by 16.5% in the 3rd quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock worth $90,060,000 after purchasing an additional 647,924 shares during the period. Realta Investment Advisors boosted its position in shares of ProShares Bitcoin ETF by 23.0% in the third quarter. Realta Investment Advisors now owns 262,617 shares of the company’s stock valued at $5,168,000 after acquiring an additional 49,096 shares during the period. Finally, Spire Wealth Management grew its stake in ProShares Bitcoin ETF by 46.0% during the third quarter. Spire Wealth Management now owns 10,912 shares of the company’s stock valued at $215,000 after acquiring an additional 3,436 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.