ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – Here’s What Happened

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO) gapped up prior to trading on Tuesday . The stock had previously closed at $22.74, but opened at $23.71. ProShares Bitcoin ETF shares last traded at $23.89, with a volume of 3,559,352 shares.

ProShares Bitcoin ETF Trading Up 5.5 %

The business has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $21.41.

Hedge Funds Weigh In On ProShares Bitcoin ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its holdings in ProShares Bitcoin ETF by 1,200.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock valued at $25,000 after acquiring an additional 1,200 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of ProShares Bitcoin ETF in the 3rd quarter valued at $28,000. Hantz Financial Services Inc. increased its position in shares of ProShares Bitcoin ETF by 408.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,459 shares of the company’s stock worth $28,000 after purchasing an additional 1,172 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in ProShares Bitcoin ETF in the 3rd quarter valued at about $29,000. Finally, Cedar Mountain Advisors LLC raised its stake in shares of ProShares Bitcoin ETF by 57.8% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 1,769 shares of the company’s stock valued at $34,000 after acquiring an additional 648 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.