ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.47 and last traded at $21.7680, with a volume of 3907244 shares. The stock had previously closed at $22.69.
ProShares Ultra Bitcoin ETF Trading Up 1.3%
The business’s fifty day moving average price is $27.77 and its two-hundred day moving average price is $44.77.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Q Fund Management Hong Kong Ltd acquired a new stake in ProShares Ultra Bitcoin ETF during the 2nd quarter valued at approximately $15,380,000. NewEdge Advisors LLC raised its holdings in shares of ProShares Ultra Bitcoin ETF by 52.7% during the third quarter. NewEdge Advisors LLC now owns 66,510 shares of the company’s stock worth $3,551,000 after purchasing an additional 22,964 shares during the last quarter. Financial Management Professionals Inc. lifted its position in ProShares Ultra Bitcoin ETF by 2.4% during the second quarter. Financial Management Professionals Inc. now owns 63,881 shares of the company’s stock valued at $3,306,000 after purchasing an additional 1,473 shares during the period. Bleakley Financial Group LLC lifted its position in ProShares Ultra Bitcoin ETF by 11.9% during the third quarter. Bleakley Financial Group LLC now owns 33,836 shares of the company’s stock valued at $1,807,000 after purchasing an additional 3,591 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in ProShares Ultra Bitcoin ETF by 29.5% in the second quarter. EverSource Wealth Advisors LLC now owns 25,007 shares of the company’s stock valued at $1,294,000 after purchasing an additional 5,692 shares during the last quarter.
About ProShares Ultra Bitcoin ETF
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.
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