ProShares Bitcoin Strategy ETF (BITO) Stock Soars 3.6% On Friday

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO – Get Free Report) shot up 3.6% on Friday. The company traded as high as $23.11 and last traded at $23.01.

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) stock shot up 3.6% on Friday . The company traded as high as $23.11 and last traded at $23.01. 3,051,066 shares were traded during mid-day trading, a decline of 81% from the average session volume of 16,179,989 shares. The stock had previously closed at $22.22.

ProShares Bitcoin Strategy ETF Price Performance. The business’s fifty day moving average is $24.51 and its two-hundred day moving average is $25.51.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF. Hedge funds have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC increased its stake in shares of ProShares Bitcoin Strategy ETF by 112.7% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after purchasing an additional 594 shares in the last quarter. Natixis bought a new position in ProShares Bitcoin Strategy ETF in the 1st quarter valued at $40,000. Geneos Wealth Management Inc. bought a new position in ProShares Bitcoin Strategy ETF in the 4th quarter valued at $25,000. Benjamin Edwards Inc. bought a new position in ProShares Bitcoin Strategy ETF in the 4th quarter valued at $37,000. And Valley National Advisers Inc. bought a new position in ProShares Bitcoin Strategy ETF in the 4th quarter valued at $40,000.

More About ProShares Bitcoin Strategy ETF. The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that primarily 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.

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