Investors Purchase Large Volume of Call Options on ProShares Bitcoin ETF (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Friday. Investors acquired 472,406 call options on the company. This represents an increase of 117% compared to the typical volume of 217,441 call options.

Hedge Funds Weigh In On ProShares Bitcoin ETF

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in shares of ProShares Bitcoin ETF by 14.1% in the 2nd quarter. NewEdge Advisors LLC now owns 59,744 shares of the company’s stock valued at $1,345,000 after buying an additional 7,405 shares during the period. Sanctuary Advisors LLC bought a new position in ProShares Bitcoin ETF in the second quarter valued at about $659,000. Thrive Wealth Management LLC increased its position in ProShares Bitcoin ETF by 22.6% in the third quarter. Thrive Wealth Management LLC now owns 12,615 shares of the company’s stock worth $242,000 after purchasing an additional 2,325 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in ProShares Bitcoin ETF by 50.3% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 60,637 shares of the company’s stock worth $1,164,000 after purchasing an additional 20,306 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in ProShares Bitcoin ETF by 1,200.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock valued at $25,000 after purchasing an additional 1,200 shares during the period.

ProShares Bitcoin ETF Stock Down 3.4 %

ProShares Bitcoin ETF stock opened at $24.59 on Friday. The stock has a 50-day simple moving average of $24.74 and a 200 day simple moving average of $21.64. ProShares Bitcoin ETF has a 12-month low of $16.11 and a 12-month high of $33.79.

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.