ProShares Bitcoin ETF Shares Set to Reverse Split on Thursday, November 19th (NYSEARCA:BITO)

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO) are set to reverse split on the morning of Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.

ProShares Bitcoin ETF Stock Up 2.9%

Shares of NYSEARCA BITO traded up $0.30 during mid-day trading on Wednesday, hitting $10.67. 77,009,599 shares of the company’s stock traded hands, compared to its average volume of 128,289,797. The company’s 50-day moving average is $10.86 and its two-hundred day moving average is $9.95. ProShares Bitcoin ETF has a 1 year low of $7.87 and a 1 year high of $16.67.

Institutional Trading of ProShares Bitcoin ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IMC Chicago LLC bought a new stake in shares of ProShares Bitcoin ETF in the 2nd quarter worth about $10,223,000. Fielder Capital Group LLC increased its stake in ProShares Bitcoin ETF by 0.4% in the second quarter. Fielder Capital Group LLC now owns 626,960 shares of the company’s stock worth $5,003,000 after purchasing an additional 2,347 shares during the period. MFA Wealth Advisors LLC increased its stake in ProShares Bitcoin ETF by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 539,612 shares of the company’s stock worth $6,044,000 after purchasing an additional 27,730 shares during the period. Group One Trading LLC lifted its position in shares of ProShares Bitcoin ETF by 14.2% during the first quarter. Group One Trading LLC now owns 460,289 shares of the company’s stock worth $4,285,000 after purchasing an additional 57,065 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of ProShares Bitcoin ETF by 371.3% during the second quarter. HighTower Advisors LLC now owns 421,623 shares of the company’s stock worth $3,365,000 after purchasing an additional 332,162 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.