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

ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) was the target of unusually large options trading activity on Tuesday. Traders acquired 386,148 call options on the company. This is an increase of 199% compared to the typical daily volume of 129,086 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC bought a new stake in shares of ProShares Bitcoin Strategy ETF in the fourth quarter worth about $93,213,000. Acorns Advisers LLC raised its holdings in ProShares Bitcoin Strategy ETF by 10.0% during the third quarter. Acorns Advisers LLC now owns 2,295,458 shares of the company’s stock worth $31,700,000 after acquiring an additional 208,988 shares in the last quarter. Simplex Trading LLC lifted its stake in ProShares Bitcoin Strategy ETF by 51.9% in the first quarter. Simplex Trading LLC now owns 906,491 shares of the company’s stock valued at $29,279,000 after acquiring an additional 309,754 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in ProShares Bitcoin Strategy ETF during the first quarter worth approximately $13,228,000. Finally, IMC Chicago LLC acquired a new position in shares of ProShares Bitcoin Strategy ETF during the 1st quarter worth approximately $10,641,000.

ProShares Bitcoin Strategy ETF Price Performance

ProShares Bitcoin Strategy ETF stock traded down $1.80 during mid-day trading on Tuesday, reaching $25.61. The company had a trading volume of 12,695,047 shares, compared to its average volume of 21,362,209. ProShares Bitcoin Strategy ETF has a 52 week low of $12.79 and a 52 week high of $33.79. The company has a 50 day moving average of $29.40 and a 200-day moving average of $23.21.

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.