ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Stock Price Down 7% – Here’s What Happened

ProShares Ultra Bitcoin ETF (NYSEARCA:BITU)’s share price traded down 7% during trading on Friday . The stock traded as low as $34.49 and last traded at $34.3890. 4,114,073 shares traded hands during trading, an increase of 59% from the average session volume of 2,579,406 shares. The stock had previously closed at $36.97.

ProShares Ultra Bitcoin ETF Stock Down 7.7%

The firm has a fifty day moving average of $50.25 and a two-hundred day moving average of $52.40.

Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF

Large investors have recently modified their holdings of the business. CWM LLC lifted its position in shares of ProShares Ultra Bitcoin ETF by 1,300.0% in the 3rd quarter. CWM LLC now owns 756 shares of the company’s stock worth $40,000 after purchasing an additional 702 shares during the period. Winnow Wealth LLC bought a new position in ProShares Ultra Bitcoin ETF in the third quarter worth approximately $62,000. Wealth Preservation Advisors LLC bought a new position in ProShares Ultra Bitcoin ETF in the first quarter worth approximately $120,000. Whitaker Myers Wealth Managers LTD. purchased a new stake in ProShares Ultra Bitcoin ETF during the second quarter worth $218,000. Finally, Spire Wealth Management boosted its position in ProShares Ultra Bitcoin ETF by 333.5% during the 2nd quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock valued at $224,000 after acquiring an additional 3,335 shares in the last quarter.

ProShares Ultra Bitcoin ETF Company Profile

The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.