ProShares Bitcoin ETF (NYSEARCA:BITO) Reaches New 1-Year Low – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.17 and last traded at $8.21, with a volume of 128782586 shares traded. The stock had previously closed at $8.65.

ProShares Bitcoin ETF Price Performance

The company has a 50-day moving average price of $10.18 and a two-hundred day moving average price of $11.11.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors have recently added to or reduced their stakes in BITO. Goldman Sachs Group Inc. lifted its holdings in 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 in the last quarter. Acorns Advisers LLC grew its position in ProShares Bitcoin ETF by 37.1% during the fourth quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after buying an additional 1,698,373 shares in the last quarter. Tidal Investments LLC increased its stake in ProShares Bitcoin ETF by 139.3% in the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after acquiring an additional 530,987 shares during the last quarter. Group One Trading LLC bought a new position in ProShares Bitcoin ETF in the 4th quarter worth about $4,903,000. Finally, HighTower Advisors LLC increased its stake in ProShares Bitcoin ETF by 1,197.5% in the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock worth $4,817,000 after acquiring an additional 365,596 shares during the last quarter.

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.