ProShares Bitcoin ETF (NYSEARCA:BITO) Shares Gap Up – What’s Next?

ProShares Bitcoin ETF (NYSEARCA:BITO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $9.21, but opened at $9.54. ProShares Bitcoin ETF shares last traded at $9.51, with a volume of 11,101,869 shares changing hands.

ProShares Bitcoin ETF Price Performance

The firm’s fifty day moving average price is $9.79 and its two-hundred day moving average price is $13.46.

ProShares Bitcoin ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were given a dividend of $0.0143 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from ProShares Bitcoin ETF’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a yield of 1.8%.

Institutional Trading of ProShares Bitcoin ETF

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in ProShares Bitcoin ETF by 120.8% in the fourth 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 in the last quarter. Acorns Advisers LLC raised its position in shares of 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 buying an additional 1,698,373 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of ProShares Bitcoin ETF by 139.3% during the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after acquiring an additional 530,987 shares during the last quarter. Group One Trading LLC bought a new position in ProShares Bitcoin ETF in the fourth quarter valued at $4,903,000. Finally, HighTower Advisors LLC raised its position in ProShares Bitcoin ETF by 1,197.5% during the fourth 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 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.