VanEck Bitcoin Trust ETF (NYSEARCA:HODL) Shares Gap Down – Here’s Why

VanEck Bitcoin Trust ETF (NYSEARCA:HODL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $23.70, but opened at $22.06. VanEck Bitcoin Trust ETF shares last traded at $22.24, with a volume of 4,008,607 shares changing hands.

VanEck Bitcoin Trust ETF Price Performance

The company has a 50 day moving average of $25.16 and a 200 day moving average of $29.21.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HODL. NEOS Investment Management LLC increased its holdings in shares of VanEck Bitcoin Trust ETF by 108.6% in the third quarter. NEOS Investment Management LLC now owns 6,032,465 shares of the company’s stock worth $195,271,000 after acquiring an additional 3,140,191 shares in the last quarter. Van ECK Associates Corp lifted its position in VanEck Bitcoin Trust ETF by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,114,027 shares of the company’s stock worth $133,171,000 after buying an additional 170,543 shares in the last quarter. Bouchey Financial Group Ltd acquired a new position in VanEck Bitcoin Trust ETF during the fourth quarter valued at approximately $16,987,000. Berger Financial Group Inc grew its stake in shares of VanEck Bitcoin Trust ETF by 5.7% in the fourth quarter. Berger Financial Group Inc now owns 681,155 shares of the company’s stock valued at $16,845,000 after buying an additional 36,859 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in VanEck Bitcoin Trust ETF by 15.3% in the second quarter. Tidal Investments LLC now owns 637,078 shares of the company’s stock valued at $19,412,000 after acquiring an additional 84,465 shares during the last quarter.

About VanEck Bitcoin Trust ETF

The VanEck Bitcoin Trust (HODL) is an exchange-traded fund that is based on the MarketVector Bitcoin Benchmark Rate index. The fund provides passive exposure to the price of Bitcoin through the purchase of shares, allowing investors to track the performance of Bitcoin without directly owning and managing the digital currency. HODL was launched on Jan 4, 2024 and is issued by VanEck.