ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) Shares Down 7.5%

Shares of ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) were down 7.5% on Friday . The company traded as low as $19.40 and last traded at $19.58. Approximately 3,052,214 shares changed hands during trading, a decline of 82% from the average daily volume of 16,633,629 shares. The stock had previously closed at $21.16.

ProShares Bitcoin Strategy ETF Trading Down 6.3 %

The stock has a 50 day moving average price of $25.43 and a two-hundred day moving average price of $25.47.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BITO. Jane Street Group LLC grew its holdings in ProShares Bitcoin Strategy ETF by 170.8% in the 1st quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock valued at $618,695,000 after buying an additional 12,081,007 shares in the last quarter. Sylebra Capital LLC purchased a new position in ProShares Bitcoin Strategy ETF during the 1st quarter valued at about $24,996,000. Whitebox Advisors LLC raised its position in ProShares Bitcoin Strategy ETF by 41.6% in the 1st quarter. Whitebox Advisors LLC now owns 538,000 shares of the company’s stock valued at $17,377,000 after purchasing an additional 158,175 shares in the last quarter. Wick Capital Partners LLC acquired a new stake in ProShares Bitcoin Strategy ETF in the 1st quarter valued at about $318,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of ProShares Bitcoin Strategy ETF during the 1st quarter worth about $4,203,000.

ProShares Bitcoin Strategy 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.