ProShares Bitcoin ETF Target of Unusually Large Options Trading (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw unusually large options trading on Wednesday. Stock traders bought 20,992 call options on the company. This is an increase of approximately 51% compared to the average volume of 13,887 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC raised its holdings in shares of ProShares Bitcoin ETF by 1,197.5% during the fourth quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock worth $4,817,000 after acquiring an additional 365,596 shares during the period. PFG Investments LLC lifted its position in ProShares Bitcoin ETF by 202.1% in the 4th quarter. PFG Investments LLC now owns 223,221 shares of the company’s stock valued at $2,714,000 after acquiring an additional 149,342 shares in the last quarter. Acorns Advisers LLC boosted its stake in ProShares Bitcoin ETF by 16.5% in the 3rd quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock worth $90,060,000 after purchasing an additional 647,924 shares during the period. Fielder Capital Group LLC increased its holdings in ProShares Bitcoin ETF by 22.5% during the 4th quarter. Fielder Capital Group LLC now owns 623,036 shares of the company’s stock worth $7,576,000 after purchasing an additional 114,561 shares in the last quarter. Finally, Consolidated Portfolio Review Corp increased its holdings in ProShares Bitcoin ETF by 13.2% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 16,052 shares of the company’s stock worth $316,000 after purchasing an additional 1,873 shares in the last quarter.

ProShares Bitcoin ETF Price Performance

Shares of BITO traded up $0.15 on Wednesday, hitting $8.13. The company’s stock had a trading volume of 228,117,157 shares, compared to its average volume of 127,268,914. The firm’s fifty day moving average price is $9.68 and its 200-day moving average price is $10.41. ProShares Bitcoin ETF has a fifty-two week low of $7.87 and a fifty-two week high of $23.49.

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.