Traders Buy High Volume of ProShares Bitcoin ETF Put Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of unusually large options trading on Tuesday. Traders bought 21,319 put options on the stock. This is an increase of approximately 21% compared to the typical daily volume of 17,567 put options.

Institutional Trading of ProShares Bitcoin ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in BITO. Goldman Sachs Group Inc. raised its stake in ProShares Bitcoin ETF by 120.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock valued at $82,224,000 after purchasing an additional 3,700,000 shares during the period. Acorns Advisers LLC raised its stake in ProShares Bitcoin ETF by 37.1% during the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock valued at $76,299,000 after purchasing an additional 1,698,373 shares during the period. Tidal Investments LLC raised its stake in ProShares Bitcoin ETF by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock valued at $17,165,000 after purchasing an additional 530,987 shares during the period. Group One Trading LLC bought a new stake in ProShares Bitcoin ETF during the 4th quarter valued at approximately $4,903,000. Finally, HighTower Advisors LLC raised its stake in ProShares Bitcoin ETF by 1,197.5% during the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock valued at $4,817,000 after purchasing an additional 365,596 shares during the period.

ProShares Bitcoin ETF Price Performance

Shares of NYSEARCA BITO remained flat at $9.74 during trading on Tuesday. The stock had a trading volume of 158,412,317 shares, compared to its average volume of 101,812,172. The company has a 50 day simple moving average of $10.22 and a 200 day simple moving average of $11.25. ProShares Bitcoin ETF has a 1 year low of $8.61 and a 1 year high of $23.49.

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.