ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $31.53, but opened at $29.92. ProShares Ultra Bitcoin ETF shares last traded at $29.6870, with a volume of 1,174,737 shares changing hands.
ProShares Ultra Bitcoin ETF Price Performance
The firm has a fifty day moving average of $42.02 and a 200 day moving average of $50.10.
Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in ProShares Ultra Bitcoin ETF by 184.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 19,315 shares of the company’s stock worth $643,000 after purchasing an additional 12,514 shares during the period. United Capital Management of KS Inc. boosted its stake in shares of ProShares Ultra Bitcoin ETF by 19.3% in the 1st quarter. United Capital Management of KS Inc. now owns 8,617 shares of the company’s stock worth $287,000 after buying an additional 1,396 shares during the last quarter. Jump Financial LLC bought a new stake in shares of ProShares Ultra Bitcoin ETF in the first quarter worth $378,000. Wealth Preservation Advisors LLC purchased a new stake in ProShares Ultra Bitcoin ETF during the first quarter valued at $120,000. Finally, NewEdge Advisors LLC lifted its holdings in ProShares Ultra Bitcoin ETF by 16.0% in the first quarter. NewEdge Advisors LLC now owns 38,817 shares of the company’s stock valued at $1,292,000 after acquiring an additional 5,355 shares during the period.
ProShares Ultra Bitcoin ETF Company Profile
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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