ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – Time to Buy?

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO) gapped up before the market opened on Monday . The stock had previously closed at $26.09, but opened at $26.82. ProShares Bitcoin ETF shares last traded at $27.17, with a volume of 2,343,686 shares traded.

ProShares Bitcoin ETF Stock Up 0.8 %

The business’s 50 day moving average price is $22.53 and its two-hundred day moving average price is $21.44.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BITO. Hexagon Capital Partners LLC boosted its holdings in shares of ProShares Bitcoin ETF by 1,200.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock worth $25,000 after buying an additional 1,200 shares during the period. LGT Financial Advisors LLC acquired a new stake in ProShares Bitcoin ETF in the 3rd quarter worth approximately $28,000. Hantz Financial Services Inc. boosted its holdings in shares of ProShares Bitcoin ETF by 408.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,459 shares of the company’s stock worth $28,000 after buying an additional 1,172 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of ProShares Bitcoin ETF during the third quarter worth approximately $29,000. Finally, Cedar Mountain Advisors LLC raised its stake in ProShares Bitcoin ETF by 57.8% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 1,769 shares of the company’s stock valued at $34,000 after purchasing an additional 648 shares during the last quarter.

ProShares Bitcoin ETF Company Profile

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.