Stock Traders Purchase High Volume of ProShares Bitcoin ETF Call Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw unusually large options trading activity on Friday. Stock traders acquired 71,889 call options on the company. This is an increase of approximately 65% compared to the typical daily volume of 43,682 call options.

Institutional Trading of ProShares Bitcoin ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC purchased a new position in ProShares Bitcoin ETF during the 1st quarter worth $287,000. CWM LLC increased its stake in ProShares Bitcoin ETF by 30.0% in the 1st quarter. CWM LLC now owns 5,604 shares of the company’s stock valued at $103,000 after purchasing an additional 1,294 shares in the last quarter. Triumph Capital Management increased its position in shares of ProShares Bitcoin ETF by 19.5% in the first quarter. Triumph Capital Management now owns 35,223 shares of the company’s stock valued at $645,000 after buying an additional 5,756 shares in the last quarter. Wedbush Securities Inc. increased its holdings in ProShares Bitcoin ETF by 164.3% during the 1st quarter. Wedbush Securities Inc. now owns 28,474 shares of the company’s stock valued at $522,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in shares of ProShares Bitcoin ETF by 11.3% during the 1st quarter. Arkadios Wealth Advisors now owns 38,513 shares of the company’s stock worth $706,000 after purchasing an additional 3,921 shares in the last quarter.

ProShares Bitcoin ETF Trading Down 2.1%

Shares of NYSEARCA BITO traded down $0.29 during mid-day trading on Friday, reaching $13.24. The company had a trading volume of 36,940,967 shares, compared to its average volume of 12,018,571. The firm has a 50 day simple moving average of $18.10 and a two-hundred day simple moving average of $20.20. ProShares Bitcoin ETF has a 52-week low of $12.89 and a 52-week high of $27.88.

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.