ProShares Bitcoin ETF Target of Unusually High Options Trading (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the recipient of some unusual options trading activity on Thursday. Investors purchased 1,652,211 call options on the stock. This is an increase of 1,123% compared to the average daily volume of 135,103 call options.

ProShares Bitcoin ETF Price Performance

Shares of BITO stock opened at $18.68 on Friday. ProShares Bitcoin ETF has a 12-month low of $16.11 and a 12-month high of $33.79. The firm has a 50-day moving average price of $18.62 and a 200 day moving average price of $22.04.

Institutional Investors Weigh In On ProShares Bitcoin ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BITO. Cedar Mountain Advisors LLC increased its position in ProShares Bitcoin ETF by 112.7% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 1,121 shares of the company’s stock valued at $25,000 after acquiring an additional 594 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of ProShares Bitcoin ETF by 1,200.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,300 shares of the company’s stock worth $25,000 after buying an additional 1,200 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of ProShares Bitcoin ETF during the 3rd quarter worth approximately $28,000. Natixis acquired a new stake in shares of ProShares Bitcoin ETF during the 1st quarter worth approximately $40,000. Finally, Kings Path Partners LLC acquired a new stake in shares of ProShares Bitcoin ETF during the 2nd quarter worth approximately $45,000.

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.