Investors Buy High Volume of ProShares Bitcoin ETF Call Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of unusually large options trading activity on Thursday. Stock traders purchased 243,796 call options on the company. This represents an increase of 91% compared to the average daily volume of 127,847 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in ProShares Bitcoin ETF by 170.8% during the first quarter. Jane Street Group LLC now owns 19,154,637 shares of the company’s stock worth $618,695,000 after buying an additional 12,081,007 shares during the last quarter. Sylebra Capital LLC bought a new stake in ProShares Bitcoin ETF during the first quarter valued at approximately $24,996,000. Whitebox Advisors LLC lifted its position in ProShares Bitcoin ETF by 8.2% during the second quarter. Whitebox Advisors LLC now owns 582,170 shares of the company’s stock valued at $13,105,000 after purchasing an additional 44,170 shares during the last quarter. United Capital Management of KS Inc. lifted its position in ProShares Bitcoin ETF by 2.8% during the second quarter. United Capital Management of KS Inc. now owns 420,885 shares of the company’s stock valued at $9,474,000 after purchasing an additional 11,340 shares during the last quarter. Finally, IMC Chicago LLC bought a new stake in ProShares Bitcoin ETF during the first quarter valued at approximately $10,641,000.

ProShares Bitcoin ETF Stock Performance

Shares of NYSEARCA BITO opened at $16.98 on Friday. The firm has a 50 day moving average price of $18.68 and a two-hundred day moving average price of $23.33. ProShares Bitcoin ETF has a 52-week low of $13.48 and a 52-week high of $33.79.

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.