ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Down 3%

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) shares fell 3% during mid-day trading on Monday . The stock traded as low as $26.81 and last traded at $26.86. 1,026,553 shares traded hands during trading, a decline of 95% from the average session volume of 21,427,658 shares. The stock had previously closed at $27.70.

ProShares Bitcoin Strategy ETF Trading Down 1.0 %

The firm’s fifty day moving average price is $29.34 and its 200-day moving average price is $23.11.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategy Asset Managers LLC grew its stake in ProShares Bitcoin Strategy ETF by 14.2% during the 1st quarter. Strategy Asset Managers LLC now owns 35,212 shares of the company’s stock valued at $1,137,000 after acquiring an additional 4,380 shares in the last quarter. Simplex Trading LLC grew its stake in ProShares Bitcoin Strategy ETF by 51.9% during the 1st quarter. Simplex Trading LLC now owns 906,491 shares of the company’s stock valued at $29,279,000 after acquiring an additional 309,754 shares in the last quarter. Simplicity Wealth LLC purchased a new position in ProShares Bitcoin Strategy ETF during the 1st quarter valued at about $5,419,000. Gradient Investments LLC grew its stake in ProShares Bitcoin Strategy ETF by 9.5% during the 1st quarter. Gradient Investments LLC now owns 39,156 shares of the company’s stock valued at $1,265,000 after acquiring an additional 3,399 shares in the last quarter. Finally, Revisor Wealth Management LLC purchased a new position in ProShares Bitcoin Strategy ETF during the 1st quarter valued at about $447,000.

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.