ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Down 6.4% – Should You Sell?

ProShares Bitcoin ETF (NYSEARCA:BITO) shares traded down 6.4% during trading on Monday . The company traded as low as $16.48 and last traded at $17.14. 3,704,019 shares were traded during mid-day trading, a decline of 61% from the average session volume of 9,475,498 shares. The stock had previously closed at $18.31.

ProShares Bitcoin ETF Stock Performance

The company has a fifty day simple moving average of $20.69 and a two-hundred day simple moving average of $21.80.

Institutional Trading of ProShares Bitcoin ETF

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in shares of ProShares Bitcoin ETF by 9.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,474 shares of the company’s stock worth $125,000 after buying an additional 464 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of ProShares Bitcoin ETF by 18.8% during the 4th quarter. Harbour Investments Inc. now owns 2,944 shares of the company’s stock worth $67,000 after buying an additional 466 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of ProShares Bitcoin ETF by 4.0% in the 4th quarter. Brookstone Capital Management now owns 13,489 shares of the company’s stock valued at $307,000 after acquiring an additional 517 shares in the last quarter. PFG Investments LLC increased its position in shares of ProShares Bitcoin ETF by 2.2% in the fourth quarter. PFG Investments LLC now owns 26,845 shares of the company’s stock valued at $612,000 after acquiring an additional 582 shares during the last quarter. Finally, Caitlin John LLC raised its holdings in ProShares Bitcoin ETF by 35.7% during the fourth quarter. Caitlin John LLC now owns 3,114 shares of the company’s stock worth $71,000 after acquiring an additional 820 shares in 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.