ProShares Bitcoin ETF (NYSEARCA:BITO) Sets New 12-Month Low – Time to Sell?

ProShares Bitcoin ETF (NYSEARCA:BITO) shares reached a new 52-week low on Wednesday . The company traded as low as $10.08 and last traded at $10.57, with a volume of 104755051 shares trading hands. The stock had previously closed at $10.79.

ProShares Bitcoin ETF Stock Performance

The stock has a 50-day moving average price of $12.49 and a 200-day moving average price of $16.70.

ProShares Bitcoin ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.0097 per share. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, February 2nd.

Hedge Funds Weigh In On ProShares Bitcoin ETF

A number of hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors bought a new position in ProShares Bitcoin ETF during the 3rd quarter worth approximately $26,000. PNC Financial Services Group Inc. acquired a new position in ProShares Bitcoin ETF in the second quarter worth $28,000. ST Germain D J Co. Inc. increased its stake in ProShares Bitcoin ETF by 55.4% during the third quarter. ST Germain D J Co. Inc. now owns 1,462 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Caitlin John LLC acquired a new stake in shares of ProShares Bitcoin ETF during the third quarter worth $29,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of ProShares Bitcoin ETF in the 4th quarter worth about $31,000.

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.