Stock Traders Purchase High Volume of ProShares Bitcoin ETF Call Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Monday. Investors bought 266,204 call options on the company. This represents an increase of approximately 436% compared to the average daily volume of 49,633 call options.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Institutional investors have recently added to or reduced their stakes in the company. NBT Bank N A NY raised its holdings in ProShares Bitcoin ETF by 1,090.0% in the fourth quarter. NBT Bank N A NY now owns 1,190 shares of the company’s stock worth $27,000 after purchasing an additional 1,090 shares in the last quarter. Concourse Financial Group Securities Inc. grew its stake in shares of ProShares Bitcoin ETF by 650.9% in the fourth quarter. Concourse Financial Group Securities Inc. now owns 1,284 shares of the company’s stock worth $29,000 after acquiring an additional 1,113 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of ProShares Bitcoin ETF in the fourth quarter worth $34,000. BOKF NA purchased a new stake in shares of ProShares Bitcoin ETF in the fourth quarter worth $35,000. Finally, Dagco Inc. purchased a new stake in shares of ProShares Bitcoin ETF in the first quarter worth $29,000.

ProShares Bitcoin ETF Stock Performance

Shares of ProShares Bitcoin ETF stock opened at $20.27 on Wednesday. The business has a 50 day moving average of $21.39 and a 200 day moving average of $21.42. ProShares Bitcoin ETF has a 52 week low of $16.11 and a 52 week high of $27.88.

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.