ProShares Bitcoin ETF (NYSEARCA:BITO) Stake Boosted by Faithward Advisors LLC

Faithward Advisors LLC increased its position in ProShares Bitcoin ETF (NYSEARCA:BITO) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 772,654 shares of the company’s stock after buying an additional 15,457 shares during the quarter. ProShares Bitcoin ETF makes up about 3.0% of Faithward Advisors LLC’s holdings, making the stock its 6th largest holding. Faithward Advisors LLC’s holdings in ProShares Bitcoin ETF were worth $17,601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BITO. Renaissance Technologies LLC purchased a new position in ProShares Bitcoin ETF during the fourth quarter worth $472,000. Trek Financial LLC boosted its holdings in ProShares Bitcoin ETF by 20.2% in the fourth quarter. Trek Financial LLC now owns 13,288 shares of the company’s stock worth $303,000 after acquiring an additional 2,234 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of ProShares Bitcoin ETF during the fourth quarter valued at $245,000. Grant Private Wealth Management Inc acquired a new position in ProShares Bitcoin ETF during the fourth quarter valued at $302,000. Finally, Arete Wealth Advisors LLC acquired a new position in shares of ProShares Bitcoin ETF in the 4th quarter valued at $275,000.

ProShares Bitcoin ETF Price Performance

BITO stock opened at $17.00 on Tuesday. The firm has a 50-day simple moving average of $20.54 and a 200-day simple moving average of $21.78. ProShares Bitcoin ETF has a 52 week low of $16.11 and a 52 week high of $31.73.

ProShares Bitcoin ETF 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.