Turner Financial Group Inc. Buys New Stake in ProShares Ultra Bitcoin ETF $BITU

Turner Financial Group Inc. purchased a new position in shares of ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) in the second quarter, HoldingsChannel reports. The institutional investor purchased 77,934 shares of the company’s stock, valued at approximately $633,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC increased its holdings in ProShares Ultra Bitcoin ETF by 9.6% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,257 shares of the company’s stock valued at $441,000 after purchasing an additional 723 shares in the last quarter. Winnow Wealth LLC lifted its stake in shares of ProShares Ultra Bitcoin ETF by 99.1% during the fourth quarter. Winnow Wealth LLC now owns 2,282 shares of the company’s stock worth $52,000 after purchasing an additional 1,136 shares in the last quarter. Group One Trading LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the fourth quarter worth about $39,000. Advisory Services Network LLC purchased a new stake in shares of ProShares Ultra Bitcoin ETF in the third quarter worth about $111,000. Finally, EFG International AG purchased a new stake in shares of ProShares Ultra Bitcoin ETF in the fourth quarter worth about $53,000.

ProShares Ultra Bitcoin ETF Trading Down 4.8%

BITU stock opened at $14.14 on Friday. ProShares Ultra Bitcoin ETF has a 1 year low of $7.92 and a 1 year high of $64.40. The stock has a 50-day simple moving average of $10.41 and a 200-day simple moving average of $11.85.

About ProShares Ultra Bitcoin ETF

The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.