Shares of ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.78 and traded as high as $10.79. ProShares Bitcoin ETF shares last traded at $10.79, with a volume of 53,197,867 shares.
ProShares Bitcoin ETF Stock Down 1.0%
The stock has a 50 day moving average of $10.86 and a 200-day moving average of $10.00.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new position in shares of ProShares Bitcoin ETF in the first quarter worth $107,000. Clare Market Investments LLC bought a new stake in shares of ProShares Bitcoin ETF during the 1st quarter worth $108,000. IFP Advisors Inc grew its position in ProShares Bitcoin ETF by 8.0% in the third quarter. IFP Advisors Inc now owns 15,352 shares of the company’s stock worth $172,000 after acquiring an additional 1,138 shares in the last quarter. Paragon Private Wealth Management LLC grew its position in ProShares Bitcoin ETF by 14.2% in the first quarter. Paragon Private Wealth Management LLC now owns 19,264 shares of the company’s stock worth $179,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in ProShares Bitcoin ETF by 79.4% in the first quarter. Lido Advisors LLC now owns 19,264 shares of the company’s stock valued at $179,000 after acquiring an additional 8,526 shares during the last quarter.
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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