ProShares Bitcoin Strategy ETF Sees Unusually Large Options Volume (NYSEARCA:BITO)

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) was the target of some unusual options trading activity on Thursday. Stock traders acquired 229,936 call options on the company. This represents an increase of approximately 65% compared to the average volume of 139,098 call options.

ProShares Bitcoin Strategy ETF Trading Up 5.4 %

Shares of BITO stock opened at $19.17 on Friday. ProShares Bitcoin Strategy ETF has a 12 month low of $13.37 and a 12 month high of $33.79. The business’s 50 day moving average is $19.89 and its two-hundred day moving average is $24.61.

Institutional Investors Weigh In On ProShares Bitcoin Strategy ETF

A number of institutional investors have recently added to or reduced their stakes in BITO. Cedar Mountain Advisors LLC boosted its stake in ProShares Bitcoin Strategy ETF by 112.7% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after buying an additional 594 shares in the last quarter. Natixis acquired a new position in ProShares Bitcoin Strategy ETF in the first quarter valued at about $40,000. Kings Path Partners LLC acquired a new position in ProShares Bitcoin Strategy ETF in the second quarter valued at about $45,000. VitalStone Financial LLC grew its stake in ProShares Bitcoin Strategy ETF by 450.3% during the fourth quarter. VitalStone Financial LLC now owns 2,790 shares of the company’s stock worth $57,000 after buying an additional 2,283 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the second quarter worth approximately $57,000.

About ProShares Bitcoin Strategy 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.