ProShares Bitcoin Strategy ETF Target of Unusually High Options Trading (NYSEARCA:BITO)

ProShares Bitcoin Strategy ETF (NYSEARCA:BITOGet Rating) was the target of unusually large options trading on Tuesday. Stock traders acquired 119,711 put options on the company. This represents an increase of approximately 69% compared to the typical daily volume of 70,830 put options.

ProShares Bitcoin Strategy ETF Stock Down 13.4 %

Shares of NYSEARCA BITO opened at $11.13 on Wednesday. ProShares Bitcoin Strategy ETF has a twelve month low of $10.39 and a twelve month high of $44.29. The business has a fifty day simple moving average of $12.16 and a two-hundred day simple moving average of $14.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BITO. Kestra Advisory Services LLC purchased a new stake in ProShares Bitcoin Strategy ETF during the first quarter valued at approximately $265,000. Merriman Wealth Management LLC purchased a new stake in shares of ProShares Bitcoin Strategy ETF during the 1st quarter valued at $514,000. Paragon Advisors LLC acquired a new stake in shares of ProShares Bitcoin Strategy ETF in the 1st quarter worth $454,000. Pinnacle Wealth Management LLC purchased a new position in ProShares Bitcoin Strategy ETF during the 1st quarter worth $2,721,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in ProShares Bitcoin Strategy ETF during the 1st quarter valued at about $58,000.

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