ProShares Bitcoin ETF (NYSEARCA:BITO – Free Report) shares are going to reverse split on the morning of Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.
ProShares Bitcoin ETF Price Performance
NYSEARCA:BITO traded up $0.30 on Wednesday, reaching $10.67. 77,009,599 shares of the company’s stock traded hands, compared to its average volume of 128,289,797. The stock has a 50-day simple moving average of $10.86 and a 200-day simple moving average of $9.95. ProShares Bitcoin ETF has a 12 month low of $7.87 and a 12 month high of $16.67.
Hedge Funds Weigh In On ProShares Bitcoin ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new stake in ProShares Bitcoin ETF in the 1st quarter worth approximately $107,000. Clare Market Investments LLC bought a new position in shares of ProShares Bitcoin ETF during the 1st quarter valued at approximately $108,000. IFP Advisors Inc boosted its position in shares of ProShares Bitcoin ETF by 8.0% during the 3rd quarter. IFP Advisors Inc now owns 15,352 shares of the company’s stock valued at $172,000 after acquiring an additional 1,138 shares during the last quarter. Paragon Private Wealth Management LLC grew its holdings in shares of ProShares Bitcoin ETF by 14.2% in the first quarter. Paragon Private Wealth Management LLC now owns 19,264 shares of the company’s stock valued at $179,000 after purchasing an additional 2,388 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in shares of ProShares Bitcoin ETF by 79.4% in the first quarter. Lido Advisors LLC now owns 19,264 shares of the company’s stock valued at $179,000 after purchasing an additional 8,526 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.
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