ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $22.78, but opened at $23.56. ProShares Bitcoin ETF shares last traded at $23.75, with a volume of 2,637,365 shares changing hands.

ProShares Bitcoin ETF Trading Up 3.3 %

The firm’s fifty day simple moving average is $23.66 and its two-hundred day simple moving average is $21.30.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Several large investors have recently made changes to their positions in the business. Whitebox Advisors LLC increased its holdings in shares of ProShares Bitcoin ETF by 19.7% in the third quarter. Whitebox Advisors LLC now owns 697,042 shares of the company’s stock worth $13,376,000 after purchasing an additional 114,872 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of ProShares Bitcoin ETF during the 3rd quarter valued at approximately $11,254,000. IHT Wealth Management LLC grew its holdings in shares of ProShares Bitcoin ETF by 100.5% in the third quarter. IHT Wealth Management LLC now owns 196,782 shares of the company’s stock valued at $3,619,000 after purchasing an additional 98,643 shares in the last quarter. Total Investment Management Inc. increased its position in ProShares Bitcoin ETF by 118.4% in the third quarter. Total Investment Management Inc. now owns 150,982 shares of the company’s stock worth $2,897,000 after purchasing an additional 81,836 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in ProShares Bitcoin ETF by 28.1% during the third quarter. MML Investors Services LLC now owns 93,050 shares of the company’s stock valued at $1,786,000 after purchasing an additional 20,386 shares in the last quarter.

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.