Traders Buy High Volume of ProShares Bitcoin ETF Put Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Tuesday. Stock investors purchased 21,319 put options on the stock. This is an increase of approximately 21% compared to the typical daily volume of 17,567 put options.

ProShares Bitcoin ETF Price Performance

NYSEARCA:BITO remained flat at $9.74 during trading hours on Tuesday. The company’s stock had a trading volume of 158,412,317 shares, compared to its average volume of 101,812,172. ProShares Bitcoin ETF has a 1-year low of $8.61 and a 1-year high of $23.49. The company’s 50 day moving average price is $10.22 and its 200 day moving average price is $11.25.

Institutional Trading of ProShares Bitcoin ETF

A number of large investors have recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in ProShares Bitcoin ETF by 4.1% in the 2nd quarter. Cerity Partners LLC now owns 16,298 shares of the company’s stock worth $351,000 after acquiring an additional 635 shares during the last quarter. Lido Advisors LLC increased its stake in ProShares Bitcoin ETF by 8.9% in the 3rd quarter. Lido Advisors LLC now owns 10,673 shares of the company’s stock worth $210,000 after acquiring an additional 874 shares during the last quarter. Bank of America Corp DE increased its stake in ProShares Bitcoin ETF by 2.0% in the 3rd quarter. Bank of America Corp DE now owns 52,200 shares of the company’s stock worth $1,027,000 after acquiring an additional 1,000 shares during the last quarter. Blair William & Co. IL increased its stake in ProShares Bitcoin ETF by 10.9% in the 3rd quarter. Blair William & Co. IL now owns 11,216 shares of the company’s stock worth $221,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC increased its stake in ProShares Bitcoin ETF by 12.1% in the 3rd quarter. Villere ST Denis J & Co. LLC now owns 10,612 shares of the company’s stock worth $209,000 after acquiring an additional 1,144 shares during the last quarter.

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.