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

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of some unusual options trading on Friday. Stock investors bought 2,272,364 call options on the company. This is an increase of approximately 1,042% compared to the average daily volume of 198,912 call options.

ProShares Bitcoin ETF Price Performance

Shares of BITO traded up $0.08 during midday trading on Friday, hitting $24.80. The company had a trading volume of 11,640,292 shares, compared to its average volume of 13,624,188. The company’s 50 day moving average price is $22.86 and its 200 day moving average price is $21.49. ProShares Bitcoin ETF has a 52 week low of $16.11 and a 52 week high of $33.79.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Hedge funds have recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC lifted its holdings in ProShares Bitcoin ETF by 10.3% in the third quarter. Kingsview Wealth Management LLC now owns 21,470 shares of the company’s stock worth $412,000 after acquiring an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ProShares Bitcoin ETF by 7.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the company’s stock worth $448,000 after purchasing an additional 1,642 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of ProShares Bitcoin ETF by 54.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,829 shares of the company’s stock worth $285,000 after purchasing an additional 5,206 shares during the last quarter. SIG North Trading ULC acquired a new position in ProShares Bitcoin ETF during the 2nd quarter valued at approximately $1,857,000. Finally, Sanctuary Advisors LLC bought a new position in ProShares Bitcoin ETF during the 2nd quarter worth $659,000.

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.