ProShares Ultra Bitcoin ETF (NYSEARCA:BITU) Shares Gap Down – What’s Next?

by · The Cerbat Gem

Shares of ProShares Ultra Bitcoin ETF (NYSEARCA:BITU – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $31.53, but opened at $29.92. ProShares Ultra Bitcoin ETF shares last traded at $29.6870, with a volume of 1,174,737 shares traded.

ProShares Ultra Bitcoin ETF Trading Down 3.5%

The company’s fifty day moving average is $40.83 and its 200 day moving average is $49.80.

Institutional Trading of ProShares Ultra Bitcoin ETF

Institutional investors have recently made changes to their positions in the business. CWM LLC increased its position in ProShares Ultra Bitcoin ETF by 1,300.0% during the 3rd quarter. CWM LLC now owns 756 shares of the company’s stock valued at $40,000 after buying an additional 702 shares in the last quarter. Winnow Wealth LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the third quarter valued at about $62,000. Advisory Services Network LLC acquired a new position in shares of ProShares Ultra Bitcoin ETF during the third quarter valued at about $111,000. Wealth Preservation Advisors LLC purchased a new position in shares of ProShares Ultra Bitcoin ETF in the 1st quarter valued at approximately $120,000. Finally, Whitaker Myers Wealth Managers LTD. acquired a new stake in ProShares Ultra Bitcoin ETF in the 2nd quarter worth approximately $218,000.

About ProShares Ultra Bitcoin ETF

(Get Free Report)

The ProShares UltraBitcoin ETF (BITU) is an exchange-traded fund that is based on the Bloomberg Bitcoin index. The fund tracks 2x the daily price movements of an index that measures the price of Bitcoin. The fund uses swaps to provide leveraged exposure to Bitcoin. BITU was launched on Apr 2, 2024 and is issued by ProShares.

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