Q Fund Management Hong Kong Ltd Sells 260,800 Shares of ProShares Ultra Bitcoin ETF $BITU

Q Fund Management Hong Kong Ltd cut its stake in shares of ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) by 87.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,400 shares of the company’s stock after selling 260,800 shares during the period. ProShares Ultra Bitcoin ETF comprises approximately 1.3% of Q Fund Management Hong Kong Ltd’s investment portfolio, making the stock its 13th largest holding. Q Fund Management Hong Kong Ltd owned 0.16% of ProShares Ultra Bitcoin ETF worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BITU. Simplex Trading LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF in the 2nd quarter worth approximately $797,000. Mutual Advisors LLC boosted its position in ProShares Ultra Bitcoin ETF by 9.0% in the second quarter. Mutual Advisors LLC now owns 17,592 shares of the company’s stock worth $910,000 after purchasing an additional 1,459 shares during the last quarter. Bleakley Financial Group LLC grew its stake in ProShares Ultra Bitcoin ETF by 13.0% in the 2nd quarter. Bleakley Financial Group LLC now owns 30,245 shares of the company’s stock valued at $1,565,000 after purchasing an additional 3,478 shares during the period. Spire Wealth Management raised its stake in shares of ProShares Ultra Bitcoin ETF by 333.5% during the 2nd quarter. Spire Wealth Management now owns 4,335 shares of the company’s stock worth $224,000 after purchasing an additional 3,335 shares during the period. Finally, Winnow Wealth LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF in the 3rd quarter worth about $62,000.

ProShares Ultra Bitcoin ETF Stock Performance

NYSEARCA BITU opened at $19.67 on Friday. ProShares Ultra Bitcoin ETF has a 52-week low of $18.74 and a 52-week high of $65.77. The company has a 50-day simple moving average of $26.00 and a 200 day simple moving average of $42.98.

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.