ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Shares Gap Down – Here’s What Happened

by · The Markets Daily

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $15.37, but opened at $14.35. ProShares Ultra Bitcoin ETF shares last traded at $14.2550, with a volume of 985,963 shares changing hands.

ProShares Ultra Bitcoin ETF Stock Performance

The stock’s 50 day moving average is $13.90 and its two-hundred day moving average is $12.39.

Hedge Funds Weigh In On ProShares Ultra Bitcoin ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp purchased a new stake in ProShares Ultra Bitcoin ETF during the 3rd quarter valued at approximately $51,000. Farther Finance Advisors LLC grew its stake in shares of ProShares Ultra Bitcoin ETF by 358.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,310 shares of the company’s stock valued at $65,000 after purchasing an additional 3,370 shares during the last quarter. SkyOak Wealth LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF in the 2nd quarter valued at approximately $95,000. Apollon Wealth Management LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF in the first quarter valued at approximately $195,000. Finally, IMC Chicago LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF in the first quarter valued at approximately $311,000.

About ProShares Ultra Bitcoin ETF

(Get Free Report)

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.

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