ProShares Bitcoin ETF (NYSEARCA:BITO) Sees Strong Trading Volume – Here’s What Happened

by · The Markets Daily

ProShares Bitcoin ETF (NYSEARCA:BITO – Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 221,508,021 shares traded hands during trading, an increase of 100% from the previous session’s volume of 110,761,891 shares.The stock last traded at $8.45 and had previously closed at $8.44.

ProShares Bitcoin ETF Trading Down 0.2%

The stock’s 50 day moving average price is $10.12 and its 200 day moving average price is $10.99.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors have recently modified their holdings of BITO. Goldman Sachs Group Inc. grew its holdings in shares of ProShares Bitcoin ETF by 120.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock worth $82,224,000 after purchasing an additional 3,700,000 shares during the period. Acorns Advisers LLC grew its holdings in shares of ProShares Bitcoin ETF by 37.1% during the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after purchasing an additional 1,698,373 shares during the period. Tidal Investments LLC grew its holdings in shares of ProShares Bitcoin ETF by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after purchasing an additional 530,987 shares during the period. Group One Trading LLC purchased a new stake in shares of ProShares Bitcoin ETF during the 4th quarter worth about $4,903,000. Finally, HighTower Advisors LLC grew its holdings in shares of ProShares Bitcoin ETF by 1,197.5% during the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock worth $4,817,000 after purchasing an additional 365,596 shares during the period.

About ProShares Bitcoin ETF

(Get Free Report)

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.

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