Investors Purchase Large Volume of ProShares Bitcoin ETF Put Options (NYSEARCA:BITO)

ProShares Bitcoin ETF (NYSEARCA:BITO) was the target of some unusual options trading on Tuesday. Investors purchased 21,319 put options on the stock. This is an increase of approximately 21% compared to the average volume of 17,567 put options.

ProShares Bitcoin ETF Stock Down 2.9%

Shares of NYSEARCA BITO opened at $8.90 on Thursday. The stock’s fifty day simple moving average is $10.19 and its two-hundred day simple moving average is $11.15. ProShares Bitcoin ETF has a 12-month low of $8.61 and a 12-month high of $23.49.

Institutional Trading of ProShares Bitcoin ETF

A number of institutional investors have recently made changes to their positions in BITO. Goldman Sachs Group Inc. boosted its position in shares of ProShares Bitcoin ETF by 120.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,761,837 shares of the company’s stock worth $82,224,000 after purchasing an additional 3,700,000 shares in the last quarter. Acorns Advisers LLC boosted its position in shares of ProShares Bitcoin ETF by 37.1% in the 4th quarter. Acorns Advisers LLC now owns 6,274,599 shares of the company’s stock worth $76,299,000 after purchasing an additional 1,698,373 shares in the last quarter. Tidal Investments LLC boosted its position in shares of ProShares Bitcoin ETF by 139.3% in the 3rd quarter. Tidal Investments LLC now owns 912,135 shares of the company’s stock worth $17,165,000 after purchasing an additional 530,987 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of ProShares Bitcoin ETF in the 4th quarter worth $4,903,000. Finally, HighTower Advisors LLC boosted its position in shares of ProShares Bitcoin ETF by 1,197.5% in the 4th quarter. HighTower Advisors LLC now owns 396,126 shares of the company’s stock worth $4,817,000 after purchasing an additional 365,596 shares in the last quarter.

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.