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

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of some unusual options trading activity on Monday. Investors purchased 52,886 call options on the stock. This is an increase of approximately 50% compared to the average volume of 35,168 call options.

ProShares Bitcoin ETF Trading Down 7.0%

Shares of BITO stock opened at $10.79 on Tuesday. ProShares Bitcoin ETF has a 12 month low of $10.74 and a 12 month high of $23.83. The company’s fifty day moving average price is $12.82 and its two-hundred day moving average price is $16.97.

ProShares Bitcoin ETF Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, February 2nd will be issued a $0.0097 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 1.1%.

Institutional Trading of ProShares Bitcoin ETF

Several hedge funds and other institutional investors have recently modified their holdings of BITO. Acorns Advisers LLC increased its stake in ProShares Bitcoin ETF by 16.5% in the third quarter. Acorns Advisers LLC now owns 4,576,226 shares of the company’s stock valued at $90,060,000 after acquiring an additional 647,924 shares during the period. Tidal Investments LLC grew its stake in shares of ProShares Bitcoin ETF by 139.3% during the third quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock valued at $17,165,000 after purchasing an additional 530,987 shares during the last quarter. RK Capital Management LLC FL lifted its holdings in ProShares Bitcoin ETF by 374.5% in the second quarter. RK Capital Management LLC FL now owns 833,600 shares of the company’s stock valued at $17,931,000 after buying an additional 657,910 shares during the period. Faithward Advisors LLC boosted its stake in ProShares Bitcoin ETF by 3.0% during the 2nd quarter. Faithward Advisors LLC now owns 785,517 shares of the company’s stock worth $16,896,000 after acquiring an additional 23,237 shares during the last quarter. Finally, Fielder Capital Group LLC boosted its position in shares of ProShares Bitcoin ETF by 14.5% during the third quarter. Fielder Capital Group LLC now owns 508,475 shares of the company’s stock worth $10,007,000 after purchasing an additional 64,525 shares in the last quarter.

About ProShares Bitcoin ETF

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.