ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Down – What’s Next?

ProShares Bitcoin ETF (NYSEARCA:BITO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $18.87, but opened at $18.46. ProShares Bitcoin ETF shares last traded at $18.45, with a volume of 1,770,142 shares traded.

ProShares Bitcoin ETF Trading Down 2.7 %

The company has a 50-day moving average price of $22.12 and a 200-day moving average price of $21.69.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of ProShares Bitcoin ETF by 2,930.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 25,179 shares of the company’s stock worth $483,000 after buying an additional 24,348 shares during the period. Brookstone Capital Management grew its position 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 purchasing an additional 517 shares during the period. Kingsview Wealth Management LLC grew its position in shares of ProShares Bitcoin ETF by 10.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 21,470 shares of the company’s stock valued at $412,000 after purchasing an additional 2,000 shares during the period. Realta Investment Advisors grew its position in shares of ProShares Bitcoin ETF by 898.4% in the 4th quarter. Realta Investment Advisors now owns 102,439 shares of the company’s stock valued at $2,459,000 after purchasing an additional 92,179 shares during the period. Finally, Proficio Capital Partners LLC grew its position in shares of ProShares Bitcoin ETF by 82.8% in the 4th quarter. Proficio Capital Partners LLC now owns 317,005 shares of the company’s stock valued at $7,221,000 after purchasing an additional 143,570 shares during the period.

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.