ProShares Bitcoin ETF (NYSEARCA:BITO) Reaches New 12-Month Low – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO) hit a new 52-week low on Wednesday . The company traded as low as $8.05 and last traded at $8.09, with a volume of 173472123 shares traded. The stock had previously closed at $8.47.

ProShares Bitcoin ETF Stock Performance

The business has a 50-day moving average of $9.87 and a two-hundred day moving average of $10.56.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kelleher Financial Advisors purchased a new position in ProShares Bitcoin ETF in the third quarter worth $26,000. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 2,100 shares during the last quarter. Caitlin John LLC purchased a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter valued at $29,000. Signature Resources Capital Management LLC acquired a new stake in shares of ProShares Bitcoin ETF in the 4th quarter worth $31,000. Finally, Ramsey Quantitative Systems acquired a new stake in shares of ProShares Bitcoin ETF in the 1st quarter worth $37,000.

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.