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

ProShares Bitcoin ETF (NYSEARCA:BITO) saw some unusual options trading on Friday. Traders purchased 211,623 call options on the stock. Thisisanincreaseofapproximately271% compared to the average volume of 57,074 call options.

ProShares Bitcoin ETF Stock Down 3.5%

NYSEARCA BITO opened at $19.54 on Friday. ProShares Bitcoin ETF has a 1 year low of $16.11 and a 1 year high of $27.88. The business’s fifty day moving average is $21.47 and its two-hundred day moving average is $20.68.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new stake in ProShares Bitcoin ETF during the 2nd quarter valued at $28,000. CoreCap Advisors LLC acquired a new stake in ProShares Bitcoin ETF during the 4th quarter valued at $34,000. BOKF NA acquired a new stake in ProShares Bitcoin ETF during the 4th quarter valued at $35,000. Dagco Inc. acquired a new stake in ProShares Bitcoin ETF during the 1st quarter valued at $29,000. Finally, Copia Wealth Management acquired a new stake in ProShares Bitcoin ETF during the 4th quarter valued at $37,000.

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.