ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $9.89 and traded as low as $9.66. ProShares Bitcoin ETF shares last traded at $9.79, with a volume of 69,302,769 shares traded.
ProShares Bitcoin ETF Stock Performance
The company’s 50-day moving average price is $10.78 and its 200 day moving average price is $9.87.
ProShares Bitcoin ETF shares are scheduled to reverse split on Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.
Institutional Trading of ProShares Bitcoin ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in BITO. HighTower Advisors LLC raised its position in shares of ProShares Bitcoin ETF by 98.9% during the third quarter. HighTower Advisors LLC now owns 838,429 shares of the company’s stock valued at $9,390,000 after buying an additional 416,806 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of ProShares Bitcoin ETF by 85.1% in the third quarter. Allworth Financial LP now owns 5,763 shares of the company’s stock worth $65,000 after buying an additional 2,650 shares in the last quarter. Thor Trading Advisors LLC bought a new position in shares of ProShares Bitcoin ETF during the third quarter worth $1,820,000. Lido Advisors LLC bought a new position in shares of ProShares Bitcoin ETF during the third quarter worth $217,000. Finally, Simplex Trading LLC purchased a new position in ProShares Bitcoin ETF during the third quarter valued at $1,927,000.
ProShares Bitcoin 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.
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