Investors Buy High Volume of Call Options on ProShares Bitcoin ETF (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Friday. Stock traders acquired 472,406 call options on the stock. This is an increase of approximately 117% compared to the typical daily volume of 217,441 call options.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of ProShares Bitcoin ETF in the 3rd quarter valued at about $11,254,000. IMC Chicago LLC bought a new stake in ProShares Bitcoin ETF in the fourth quarter worth approximately $2,659,000. Whitebox Advisors LLC boosted its holdings in shares of ProShares Bitcoin ETF by 19.7% during the 3rd quarter. Whitebox Advisors LLC now owns 697,042 shares of the company’s stock worth $13,376,000 after buying an additional 114,872 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of ProShares Bitcoin ETF by 100.5% during the 3rd quarter. IHT Wealth Management LLC now owns 196,782 shares of the company’s stock worth $3,619,000 after buying an additional 98,643 shares in the last quarter. Finally, Realta Investment Advisors grew its position in shares of ProShares Bitcoin ETF by 898.4% during the 4th quarter. Realta Investment Advisors now owns 102,439 shares of the company’s stock worth $2,459,000 after buying an additional 92,179 shares during the period.

ProShares Bitcoin ETF Stock Performance

Shares of BITO stock traded down $0.87 during mid-day trading on Friday, reaching $24.59. 8,907,467 shares of the stock traded hands, compared to its average volume of 9,198,722. The stock’s fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $21.64. ProShares Bitcoin ETF has a 1-year low of $16.11 and a 1-year high of $33.79.

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.