ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Trading Up 4.6%

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)’s share price were up 4.6% during trading on Thursday . The company traded as high as $28.02 and last traded at $27.87. Approximately 3,978,422 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 22,651,242 shares. The stock had previously closed at $26.64.

ProShares Bitcoin Strategy ETF Stock Up 1.2 %

The stock has a 50 day simple moving average of $28.93 and a 200-day simple moving average of $22.48.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BITO. Geneos Wealth Management Inc. purchased a new position in ProShares Bitcoin Strategy ETF during the fourth quarter valued at approximately $25,000. Harbour Investments Inc. lifted its position in ProShares Bitcoin Strategy ETF by 1,182.5% during the fourth quarter. Harbour Investments Inc. now owns 1,539 shares of the company’s stock valued at $32,000 after purchasing an additional 1,419 shares during the period. Benjamin Edwards Inc. acquired a new position in ProShares Bitcoin Strategy ETF during the fourth quarter valued at $37,000. Valley National Advisers Inc. acquired a new position in shares of ProShares Bitcoin Strategy ETF in the fourth quarter worth about $40,000. Finally, VitalStone Financial LLC raised its position in shares of ProShares Bitcoin Strategy ETF by 450.3% in the fourth quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock worth $57,000 after acquiring an additional 2,283 shares during the period.

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.