Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Down 57.2% in July

Bitwise Bitcoin ETF (NYSEARCA:BITB) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 113,531 shares, a drop of 57.2% from the July 15th total of 265,360 shares. Based on an average daily volume of 1,044,406 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are sold short.

Bitwise Bitcoin ETF Stock Down 0.8%

Shares of NYSEARCA BITB traded down $0.26 during midday trading on Friday, reaching $34.13. The company’s stock had a trading volume of 566,150 shares, compared to its average volume of 2,409,616. The business’s 50 day moving average price is $34.37 and its two-hundred day moving average price is $37.78. Bitwise Bitcoin ETF has a fifty-two week low of $31.49 and a fifty-two week high of $68.74.

Hedge Funds Weigh In On Bitwise Bitcoin ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. GeoWealth Management LLC acquired a new position in Bitwise Bitcoin ETF in the 4th quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Bitwise Bitcoin ETF by 262.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock valued at $42,000 after acquiring an additional 643 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Bitwise Bitcoin ETF by 53.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the company’s stock worth $44,000 after purchasing an additional 421 shares in the last quarter. Kingdom Financial Group LLC. acquired a new stake in shares of Bitwise Bitcoin ETF during the 4th quarter worth $65,000. Finally, Hollencrest Capital Management increased its position in shares of Bitwise Bitcoin ETF by 35.9% in the fourth quarter. Hollencrest Capital Management now owns 1,529 shares of the company’s stock worth $73,000 after purchasing an additional 404 shares during the period.

Bitwise Bitcoin ETF Company Profile

The Bitwise Bitcoin ETF Trust (BITB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a multi-layer cold storage wallet. BITB was launched on Jan 10, 2024 and is issued by Bitwise.