Investors Purchase High Volume of ProShares Bitcoin ETF Put Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of unusually large options trading on Thursday. Stock traders purchased 15,377 put options on the stock. This represents an increase of approximately 19% compared to the typical volume of 12,949 put options.

Institutional Trading of ProShares Bitcoin ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems purchased a new stake in ProShares Bitcoin ETF during the first quarter worth about $37,000. Private Wealth Asset Management LLC increased its holdings in ProShares Bitcoin ETF by 1,358.3% in the fourth quarter. Private Wealth Asset Management LLC now owns 7,510 shares of the company’s stock valued at $91,000 after buying an additional 6,995 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of ProShares Bitcoin ETF during the 4th quarter valued at approximately $128,000. Apollon Wealth Management LLC acquired a new stake in shares of ProShares Bitcoin ETF during the 1st quarter valued at approximately $107,000. Finally, Clare Market Investments LLC purchased a new stake in shares of ProShares Bitcoin ETF during the 1st quarter worth approximately $108,000.

ProShares Bitcoin ETF Price Performance

Shares of NYSEARCA BITO traded up $0.06 during trading on Thursday, hitting $11.26. 48,513,735 shares of the company were exchanged, compared to its average volume of 135,881,953. ProShares Bitcoin ETF has a 1 year low of $7.87 and a 1 year high of $20.91. The firm’s fifty day moving average price is $9.92 and its 200 day moving average price is $9.67.

About ProShares Bitcoin ETF

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.