Traders Purchase Large Volume of Call Options on ProShares Bitcoin ETF (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading activity on Friday. Stock investors purchased 472,406 call options on the company. This is an increase of 117% compared to the average volume of 217,441 call options.

ProShares Bitcoin ETF Price Performance

Shares of BITO traded down $0.87 during trading hours on Friday, hitting $24.59. The company had a trading volume of 8,907,467 shares, compared to its average volume of 9,198,722. The business has a fifty day moving average of $24.74 and a 200-day moving average of $21.64. ProShares Bitcoin ETF has a 12 month low of $16.11 and a 12 month high of $33.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BITO. NewEdge Advisors LLC raised its position in shares of ProShares Bitcoin ETF by 14.1% in the second quarter. NewEdge Advisors LLC now owns 59,744 shares of the company’s stock valued at $1,345,000 after buying an additional 7,405 shares in the last quarter. Sanctuary Advisors LLC bought a new position in ProShares Bitcoin ETF during the 2nd quarter worth $659,000. Thrive Wealth Management LLC raised its holdings in ProShares Bitcoin ETF by 22.6% in the 3rd quarter. Thrive Wealth Management LLC now owns 12,615 shares of the company’s stock valued at $242,000 after acquiring an additional 2,325 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of ProShares Bitcoin ETF by 50.3% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 60,637 shares of the company’s stock valued at $1,164,000 after acquiring an additional 20,306 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 1,200 shares in the last quarter.

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.