ProShares Bitcoin ETF Target of Unusually High Options Trading (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of unusually large options trading on Tuesday. Stock investors bought 101,655 call options on the stock. This is an increase of 176% compared to the typical volume of 36,788 call options.

ProShares Bitcoin ETF Trading Down 0.9%

ProShares Bitcoin ETF stock traded down $0.12 on Tuesday, hitting $12.92. The company’s stock had a trading volume of 38,109,920 shares, compared to its average volume of 14,318,865. ProShares Bitcoin ETF has a one year low of $12.39 and a one year high of $26.10. The company has a fifty day moving average price of $15.30 and a 200-day moving average price of $18.88.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kelleher Financial Advisors acquired a new stake in ProShares Bitcoin ETF during the third quarter valued at approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of ProShares Bitcoin ETF during the 2nd quarter worth approximately $28,000. ST Germain D J Co. Inc. boosted its stake in ProShares Bitcoin ETF by 55.4% in the 3rd quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after buying an additional 521 shares in the last quarter. Caitlin John LLC acquired a new stake in ProShares Bitcoin ETF in the 3rd quarter valued at $29,000. Finally, Cedar Mountain Advisors LLC grew its position in ProShares Bitcoin ETF by 43.7% in the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after acquiring an additional 548 shares during the period.

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.