ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Trading 3.5% Higher

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) shot up 3.5% during mid-day trading on Friday . The stock traded as high as $21.34 and last traded at $21.33. 1,211,166 shares changed hands during trading, a decline of 92% from the average session volume of 15,643,963 shares. The stock had previously closed at $20.61.

ProShares Bitcoin Strategy ETF Stock Performance

The company’s fifty day moving average is $23.76 and its 200-day moving average is $25.55.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in ProShares Bitcoin Strategy ETF by 170.8% in the 1st quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock valued at $618,695,000 after buying an additional 12,081,007 shares during the period. Simplex Trading LLC raised its position in ProShares Bitcoin Strategy ETF by 51.9% in the first quarter. Simplex Trading LLC now owns 906,491 shares of the company’s stock worth $29,279,000 after purchasing an additional 309,754 shares in the last quarter. Sylebra Capital LLC bought a new position in ProShares Bitcoin Strategy ETF during the first quarter worth about $24,996,000. Whitebox Advisors LLC raised its holdings in shares of ProShares Bitcoin Strategy ETF by 41.6% in the 1st quarter. Whitebox Advisors LLC now owns 538,000 shares of the company’s stock worth $17,377,000 after buying an additional 158,175 shares in the last quarter. Finally, United Capital Management of KS Inc. lifted its position in shares of ProShares Bitcoin Strategy ETF by 2.8% during the 2nd quarter. United Capital Management of KS Inc. now owns 420,885 shares of the company’s stock worth $9,474,000 after buying an additional 11,340 shares during the period.

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.