ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report)’s share price were down 1.5% on Friday . The stock traded as low as $8.87 and last traded at $9.00. 2,884,278 shares traded hands during trading, a decline of 42% from the average daily volume of 4,931,930 shares. The stock had previously closed at $9.14.
ProShares Ultra Bitcoin ETF Stock Performance
The business’s 50-day moving average price is $9.35 and its 200-day moving average price is $12.17.
Institutional Trading of ProShares Ultra Bitcoin ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC raised its stake in shares of ProShares Ultra Bitcoin ETF by 9.6% in the third quarter. Orion Porfolio Solutions LLC now owns 8,257 shares of the company’s stock worth $441,000 after buying an additional 723 shares during the period. Winnow Wealth LLC increased its holdings in ProShares Ultra Bitcoin ETF by 99.1% in the 4th quarter. Winnow Wealth LLC now owns 2,282 shares of the company’s stock worth $52,000 after acquiring an additional 1,136 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in ProShares Ultra Bitcoin ETF by 1.9% in the 4th quarter. Financial Management Professionals Inc. now owns 64,619 shares of the company’s stock worth $1,427,000 after acquiring an additional 1,176 shares in the last quarter. Group One Trading LLC bought a new stake in ProShares Ultra Bitcoin ETF during the 4th quarter worth approximately $39,000. Finally, Advisory Services Network LLC bought a new stake in ProShares Ultra Bitcoin ETF during the 3rd quarter worth approximately $111,000.
ProShares Ultra Bitcoin ETF Company Profile
The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.
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