Faithward Advisors LLC Lowers Position in ProShares Bitcoin ETF $BITO

Faithward Advisors LLC cut its position in shares of ProShares Bitcoin ETF (NYSEARCA:BITO) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 631,405 shares of the company’s stock after selling 154,112 shares during the quarter. ProShares Bitcoin ETF comprises 1.8% of Faithward Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Faithward Advisors LLC owned approximately 0.41% of ProShares Bitcoin ETF worth $12,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BITO. Integrated Wealth Concepts LLC lifted its position in ProShares Bitcoin ETF by 6.1% during the first quarter. Integrated Wealth Concepts LLC now owns 23,289 shares of the company’s stock valued at $427,000 after buying an additional 1,339 shares during the period. Allworth Financial LP grew its position in shares of ProShares Bitcoin ETF by 24.4% in the 2nd quarter. Allworth Financial LP now owns 4,845 shares of the company’s stock worth $104,000 after buying an additional 951 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of ProShares Bitcoin ETF in the 2nd quarter worth about $28,000. Creative Planning increased its stake in shares of ProShares Bitcoin ETF by 7.4% in the 2nd quarter. Creative Planning now owns 49,085 shares of the company’s stock worth $1,056,000 after acquiring an additional 3,363 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in ProShares Bitcoin ETF during the 2nd quarter valued at about $214,000.

ProShares Bitcoin ETF Price Performance

NYSEARCA:BITO opened at $10.26 on Wednesday. ProShares Bitcoin ETF has a one year low of $8.61 and a one year high of $23.63. The company’s 50-day simple moving average is $10.67 and its 200 day simple moving average is $14.39.

ProShares Bitcoin ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.0143 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 1.7%.

ProShares Bitcoin ETF 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.