ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Gap Down to $22.69

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) gapped down prior to trading on Thursday . The stock had previously closed at $22.69, but opened at $21.04. ProShares Bitcoin Strategy ETF shares last traded at $20.94, with a volume of 2,145,056 shares trading hands.

ProShares Bitcoin Strategy ETF Price Performance

The business has a 50 day simple moving average of $23.60 and a 200 day simple moving average of $25.55.

Hedge Funds Weigh In On ProShares Bitcoin Strategy ETF

Large investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its stake in shares of ProShares Bitcoin Strategy ETF by 112.7% during the second quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after acquiring an additional 594 shares during the period. Natixis bought a new stake in ProShares Bitcoin Strategy ETF in the first quarter valued at about $40,000. Geneos Wealth Management Inc. bought a new stake in ProShares Bitcoin Strategy ETF in the fourth quarter valued at about $25,000. Benjamin Edwards Inc. bought a new stake in ProShares Bitcoin Strategy ETF in the fourth quarter valued at about $37,000. Finally, Valley National Advisers Inc. bought a new stake in ProShares Bitcoin Strategy ETF in the fourth quarter valued at about $40,000.

ProShares Bitcoin Strategy 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.