ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Stock Price Down 4%

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO)’s stock price traded down 4% during mid-day trading on Wednesday . The stock traded as low as $26.13 and last traded at $26.37. 8,807,178 shares changed hands during trading, a decline of 61% from the average session volume of 22,815,662 shares. The stock had previously closed at $27.46.

ProShares Bitcoin Strategy ETF Stock Performance

The company has a 50-day moving average of $28.58 and a 200-day moving average of $22.32.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. UMB Bank n.a. purchased a new position in shares of ProShares Bitcoin Strategy ETF in the fourth quarter worth about $74,000. HighTower Advisors LLC raised its stake in shares of ProShares Bitcoin Strategy ETF by 8.1% in the third quarter. HighTower Advisors LLC now owns 73,379 shares of the company’s stock worth $1,011,000 after purchasing an additional 5,516 shares during the last quarter. Brookstone Capital Management purchased a new position in shares of ProShares Bitcoin Strategy ETF in the fourth quarter worth about $303,000. EisnerAmper Wealth Management Corporate Benefits LLC purchased a new position in shares of ProShares Bitcoin Strategy ETF in the fourth quarter worth about $275,000. Finally, MFA Wealth Advisors LLC raised its stake in shares of ProShares Bitcoin Strategy ETF by 3.4% in the third quarter. MFA Wealth Advisors LLC now owns 212,019 shares of the company’s stock worth $2,928,000 after purchasing an additional 6,913 shares during the last quarter.

About ProShares Bitcoin Strategy 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.