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

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO) gapped down prior to trading on Monday . The stock had previously closed at $18.87, but opened at $18.46. ProShares Bitcoin ETF shares last traded at $18.45, with a volume of 1,770,142 shares traded.

ProShares Bitcoin ETF Stock Down 1.4 %

The firm’s 50-day moving average is $22.34 and its two-hundred day moving average is $21.70.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors have recently bought and sold shares of BITO. Proficio Capital Partners LLC grew its holdings in shares of ProShares Bitcoin ETF by 1,184.0% in the 4th quarter. Proficio Capital Partners LLC now owns 2,226,893 shares of the company’s stock valued at $50,729,000 after buying an additional 2,053,458 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of ProShares Bitcoin ETF in the 3rd quarter valued at $11,254,000. SIG North Trading ULC acquired a new position in shares of ProShares Bitcoin ETF in the 4th quarter valued at $6,376,000. Summit Securities Group LLC grew its holdings in shares of ProShares Bitcoin ETF by 143.4% in the 4th quarter. Summit Securities Group LLC now owns 371,498 shares of the company’s stock valued at $8,463,000 after buying an additional 218,898 shares during the period. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of ProShares Bitcoin ETF in the 4th quarter valued at $3,759,000.

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.