Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) Shares Up 7% – Still a Buy?

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) shares shot up 7% during mid-day trading on Wednesday . The stock traded as high as $39.38 and last traded at $38.88. 12,454 shares changed hands during trading, an increase of 77% from the average session volume of 7,056 shares. The stock had previously closed at $36.35.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Price Performance

The business’s fifty day moving average is $36.71 and its two-hundred day moving average is $40.94.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 30th. Stockholders of record on Friday, December 26th were paid a $1.2256 dividend. This represents a dividend yield of 337.0%. The ex-dividend date of this dividend was Friday, December 26th.

Institutional Trading of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF

Several hedge funds and other institutional investors have recently bought and sold shares of BITC. Mariner LLC lifted its position in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 21.6% in the fourth quarter. Mariner LLC now owns 5,711 shares of the company’s stock worth $208,000 after buying an additional 1,013 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF in the fourth quarter valued at $660,000. Dagco Inc. purchased a new stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF in the third quarter valued at $76,000. Brookwood Investment Group LLC lifted its holdings in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 13.7% in the 3rd quarter. Brookwood Investment Group LLC now owns 5,039 shares of the company’s stock worth $228,000 after acquiring an additional 607 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 18.4% during the 2nd quarter. Atria Investments Inc now owns 13,932 shares of the company’s stock worth $632,000 after purchasing an additional 2,169 shares during the period.

About Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of bitcoin futures contracts that exhibit the highest implied roll yield, collateralized by short-term debt securities. The fund seeks to provide capital appreciation with low correlation to traditional asset classes. BITC was launched on Mar 20, 2023 and is managed by Bitwise.