ProShares Bitcoin ETF (NYSEARCA:BITO) Sees Strong Trading Volume – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO) saw an uptick in trading volume on Wednesday . 221,508,021 shares changed hands during trading, an increase of 100% from the previous session’s volume of 110,761,891 shares.The stock last traded at $8.45 and had previously closed at $8.44.

ProShares Bitcoin ETF Stock Up 2.5%

The business’s 50 day simple moving average is $10.09 and its 200 day simple moving average is $10.92.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BITO. Cerity Partners LLC increased its stake in ProShares Bitcoin ETF by 4.1% in the 2nd quarter. Cerity Partners LLC now owns 16,298 shares of the company’s stock valued at $351,000 after buying an additional 635 shares during the period. Lido Advisors LLC increased its position in ProShares Bitcoin ETF by 8.9% during the 3rd quarter. Lido Advisors LLC now owns 10,673 shares of the company’s stock worth $210,000 after purchasing an additional 874 shares during the period. Bank of America Corp DE raised its stake in shares of ProShares Bitcoin ETF by 2.0% during the 3rd quarter. Bank of America Corp DE now owns 52,200 shares of the company’s stock worth $1,027,000 after buying an additional 1,000 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of ProShares Bitcoin ETF by 10.9% in the 3rd quarter. Blair William & Co. IL now owns 11,216 shares of the company’s stock valued at $221,000 after buying an additional 1,104 shares during the period. Finally, Kelleher Financial Advisors acquired a new position in ProShares Bitcoin ETF during the third quarter worth $26,000.

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.