ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Down to $21.69

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) gapped down before the market opened on Wednesday . The stock had previously closed at $21.69, but opened at $21.09. ProShares Bitcoin Strategy ETF shares last traded at $21.19, with a volume of 1,406,516 shares.

ProShares Bitcoin Strategy ETF Stock Down 2.5 %

The firm has a fifty day simple moving average of $25.70 and a 200-day simple moving average of $25.53.

Institutional Trading of ProShares Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of ProShares Bitcoin Strategy ETF by 170.8% during the first quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock valued at $618,695,000 after buying an additional 12,081,007 shares during the last quarter. ARK Investment Management LLC bought a new stake in ProShares Bitcoin Strategy ETF during the 4th quarter worth approximately $93,213,000. Sylebra Capital LLC purchased a new stake in shares of ProShares Bitcoin Strategy ETF in the first quarter worth approximately $24,996,000. Simplex Trading LLC lifted its holdings in shares of ProShares Bitcoin Strategy ETF by 770.7% in the fourth quarter. Simplex Trading LLC now owns 596,737 shares of the company’s stock valued at $12,227,000 after purchasing an additional 528,205 shares in the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in shares of ProShares Bitcoin Strategy ETF during the first quarter valued at approximately $13,228,000.

About ProShares Bitcoin Strategy 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.