ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Hits New 52-Week Low – Should You Sell?
by Renee Jackson · The Cerbat GemProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report)’s share price reached a new 52-week low on Monday . The company traded as low as $18.74 and last traded at $17.0870, with a volume of 5148186 shares trading hands. The stock had previously closed at $19.80.
ProShares Ultra Bitcoin ETF Trading Down 11.8%
The stock has a fifty day simple moving average of $26.00 and a 200-day simple moving average of $42.73.
ProShares Ultra Bitcoin ETF Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, February 2nd will be paid a $0.03 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, February 2nd.
Institutional Trading of ProShares Ultra Bitcoin ETF
Institutional investors and hedge funds have recently made changes to their positions in the company. Simplex Trading LLC purchased a new position in ProShares Ultra Bitcoin ETF in the 2nd quarter valued at $797,000. Mutual Advisors LLC increased its stake in shares of ProShares Ultra Bitcoin ETF by 9.0% during the second quarter. Mutual Advisors LLC now owns 17,592 shares of the company’s stock worth $910,000 after acquiring an additional 1,459 shares during the period. Bleakley Financial Group LLC increased its stake in shares of ProShares Ultra Bitcoin ETF by 13.0% during the second quarter. Bleakley Financial Group LLC now owns 30,245 shares of the company’s stock worth $1,565,000 after acquiring an additional 3,478 shares during the period. Spire Wealth Management raised its holdings in ProShares Ultra Bitcoin ETF by 333.5% during the second quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock worth $224,000 after purchasing an additional 3,335 shares in the last quarter. Finally, Q Fund Management Hong Kong Ltd acquired a new stake in ProShares Ultra Bitcoin ETF in the second quarter valued at about $15,380,000.
About ProShares Ultra Bitcoin ETF
The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.