Shares of ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $8.05 and last traded at $8.09, with a volume of 173472123 shares. The stock had previously closed at $8.47.
ProShares Bitcoin ETF Price Performance
The business has a 50 day moving average of $9.95 and a 200 day moving average of $10.64.
Institutional Trading of ProShares Bitcoin ETF
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in ProShares Bitcoin ETF by 120.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock worth $82,224,000 after purchasing an additional 3,700,000 shares during the period. Acorns Advisers LLC grew its stake in shares of ProShares Bitcoin ETF by 37.1% in the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock valued at $76,299,000 after purchasing an additional 1,698,373 shares during the period. Tidal Investments LLC raised its holdings in shares of ProShares Bitcoin ETF by 139.3% in the 3rd 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. Group One Trading LLC acquired a new position in shares of ProShares Bitcoin ETF in the 4th quarter worth approximately $4,903,000. Finally, HighTower Advisors LLC lifted its position in shares of ProShares Bitcoin ETF by 1,197.5% during the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock worth $4,817,000 after buying an additional 365,596 shares during the period.
About ProShares Bitcoin ETF
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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