ProShares Bitcoin ETF (NYSEARCA:BITO) Reaches New 1-Year Low – Here’s What Happened

ProShares Bitcoin ETF (NYSEARCA:BITO)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $8.17 and last traded at $8.21, with a volume of 128782586 shares traded. The stock had previously closed at $8.65.

ProShares Bitcoin ETF Trading Down 6.5%

The business has a fifty day moving average price of $10.18 and a 200 day moving average price of $11.11.

Hedge Funds Weigh In On ProShares Bitcoin ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors acquired a new position in ProShares Bitcoin ETF in the 3rd quarter worth about $26,000. Barclays PLC boosted its holdings in ProShares Bitcoin ETF by 210,000.0% in the fourth quarter. Barclays PLC now owns 2,101 shares of the company’s stock worth $26,000 after acquiring an additional 2,100 shares in the last quarter. Caitlin John LLC bought a new position in ProShares Bitcoin ETF in the third quarter worth approximately $29,000. Signature Resources Capital Management LLC purchased a new stake in shares of ProShares Bitcoin ETF in the fourth quarter worth approximately $31,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of ProShares Bitcoin ETF in the first quarter worth approximately $37,000.

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.