ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Down – Should You Sell?

Shares of ProShares Bitcoin ETF (NYSEARCA:BITO) gapped down before the market opened on Friday . The stock had previously closed at $19.88, but opened at $18.91. ProShares Bitcoin ETF shares last traded at $19.12, with a volume of 2,440,225 shares trading hands.

ProShares Bitcoin ETF Trading Down 1.0 %

The company has a fifty day simple moving average of $18.62 and a 200 day simple moving average of $22.00.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors have recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new stake in ProShares Bitcoin ETF in the third quarter worth approximately $28,000. Forum Financial Management LP acquired a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter worth approximately $672,000. Realta Investment Advisors bought a new stake in shares of ProShares Bitcoin ETF in the 3rd quarter valued at $193,000. Interchange Capital Partners LLC lifted its position in shares of ProShares Bitcoin ETF by 6.4% during the 3rd quarter. Interchange Capital Partners LLC now owns 14,364 shares of the company’s stock valued at $276,000 after acquiring an additional 858 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in ProShares Bitcoin ETF by 7.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the company’s stock worth $448,000 after acquiring an additional 1,642 shares in the last quarter.

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.