B. Riley Wealth Advisors Inc. Makes New Investment in ProShares Bitcoin ETF $BITO

B. Riley Wealth Advisors Inc. acquired a new stake in ProShares Bitcoin ETF (NYSEARCA:BITO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 46,060 shares of the company’s stock, valued at approximately $991,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in ProShares Bitcoin ETF during the 2nd quarter valued at about $28,000. Cedar Mountain Advisors LLC lifted its holdings in ProShares Bitcoin ETF by 43.7% in the second quarter. Cedar Mountain Advisors LLC now owns 1,801 shares of the company’s stock valued at $39,000 after buying an additional 548 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in ProShares Bitcoin ETF by 422.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,100 shares of the company’s stock valued at $67,000 after acquiring an additional 2,507 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in ProShares Bitcoin ETF during the 2nd quarter worth $67,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of ProShares Bitcoin ETF by 58.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,269 shares of the company’s stock valued at $92,000 after acquiring an additional 1,580 shares during the last quarter.

ProShares Bitcoin ETF Stock Performance

Shares of BITO opened at $12.67 on Tuesday. ProShares Bitcoin ETF has a 1 year low of $12.39 and a 1 year high of $27.88. The stock’s 50-day moving average price is $15.99 and its two-hundred day moving average price is $19.17.

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.