Shares of ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) traded up 10.6% on Tuesday . The stock traded as high as $29.59 and last traded at $30.1220. 1,128,029 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 2,703,224 shares. The stock had previously closed at $27.24.
ProShares Ultra Bitcoin ETF Stock Performance
The business has a 50 day moving average price of $44.94 and a two-hundred day moving average price of $51.20.
Institutional Investors Weigh In On ProShares Ultra Bitcoin ETF
Large investors have recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in shares of ProShares Ultra Bitcoin ETF during the first quarter valued at about $120,000. Simplex Trading LLC purchased a new position in ProShares Ultra Bitcoin ETF during the 2nd quarter valued at about $797,000. Mutual Advisors LLC increased its holdings in ProShares Ultra Bitcoin ETF by 9.0% during the 2nd quarter. Mutual Advisors LLC now owns 17,592 shares of the company’s stock valued at $910,000 after purchasing an additional 1,459 shares during the period. Toth Financial Advisory Corp raised its position in ProShares Ultra Bitcoin ETF by 1,333.9% during the 2nd quarter. Toth Financial Advisory Corp now owns 10,080 shares of the company’s stock valued at $522,000 after purchasing an additional 9,377 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in ProShares Ultra Bitcoin ETF by 2.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 63,881 shares of the company’s stock worth $3,306,000 after buying an additional 1,473 shares during the period.
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.
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