ProShares Bitcoin ETF (NYSEARCA:BITO) Sets New 1-Year Low – Here’s Why

ProShares Bitcoin ETF (NYSEARCA:BITO) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.17 and last traded at $8.21, with a volume of 128782586 shares. The stock had previously closed at $8.65.

ProShares Bitcoin ETF Stock Performance

The company has a fifty day simple moving average of $10.14 and a 200-day simple moving average of $11.09.

Institutional Trading of ProShares Bitcoin ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kelleher Financial Advisors acquired a new stake in ProShares Bitcoin ETF during the 3rd quarter worth about $26,000. Caitlin John LLC purchased a new position in ProShares Bitcoin ETF during the 3rd quarter valued at about $29,000. Barclays PLC grew its stake in ProShares Bitcoin ETF by 210,000.0% during the 4th quarter. Barclays PLC now owns 2,101 shares of the company’s stock valued at $26,000 after acquiring an additional 2,100 shares in the last quarter. Sunbelt Securities Inc. grew its stake in ProShares Bitcoin ETF by 432.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,128 shares of the company’s stock valued at $42,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Signature Resources Capital Management LLC purchased a new position in ProShares Bitcoin ETF during the 4th quarter valued at about $31,000.

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.