VanEck Bitcoin Trust ETF (NYSEARCA:HODL) Sets New 12-Month Low – Here’s Why

VanEck Bitcoin Trust ETF (NYSEARCA:HODL) hit a new 52-week low on Tuesday . The stock traded as low as $20.61 and last traded at $21.11, with a volume of 7509435 shares traded. The stock had previously closed at $22.05.

VanEck Bitcoin Trust ETF Stock Down 2.0%

The firm has a 50 day moving average price of $25.31 and a 200-day moving average price of $29.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its position in VanEck Bitcoin Trust ETF by 71.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 65,158 shares of the company’s stock valued at $2,094,000 after acquiring an additional 27,077 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of VanEck Bitcoin Trust ETF during the second quarter valued at $226,000. Firestone Capital Management grew its holdings in shares of VanEck Bitcoin Trust ETF by 11.1% in the second quarter. Firestone Capital Management now owns 28,183 shares of the company’s stock worth $859,000 after purchasing an additional 2,827 shares during the last quarter. Synergy Asset Management LLC increased its stake in VanEck Bitcoin Trust ETF by 200.0% in the 3rd quarter. Synergy Asset Management LLC now owns 36,012 shares of the company’s stock worth $1,120,000 after buying an additional 24,008 shares during the period. Finally, Meitav Investment House Ltd. increased its stake in VanEck Bitcoin Trust ETF by 28.9% in the 3rd quarter. Meitav Investment House Ltd. now owns 93,191 shares of the company’s stock worth $3,017,000 after buying an additional 20,880 shares during the period.

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.