Bitwise Bitcoin ETF (NYSEARCA:BITB – Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 44,237 shares, a drop of 61.0% from the July 30th total of 113,531 shares. Based on an average trading volume of 871,251 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are short sold.
Institutional Investors Weigh In On Bitwise Bitcoin ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new position in shares of Bitwise Bitcoin ETF during the 4th quarter worth about $516,000. Focus Partners Wealth grew its holdings in Bitwise Bitcoin ETF by 0.8% during the first quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock valued at $1,318,000 after purchasing an additional 244 shares during the period. JPMorgan Chase & Co. increased its stake in Bitwise Bitcoin ETF by 1,519.0% in the second quarter. JPMorgan Chase & Co. now owns 50,076 shares of the company’s stock valued at $2,934,000 after purchasing an additional 46,983 shares in the last quarter. CW Advisors LLC bought a new stake in Bitwise Bitcoin ETF in the second quarter valued at approximately $228,000. Finally, First Trust Advisors LP raised its holdings in Bitwise Bitcoin ETF by 21.9% in the second quarter. First Trust Advisors LP now owns 102,571 shares of the company’s stock worth $6,010,000 after purchasing an additional 18,397 shares during the period.
Bitwise Bitcoin ETF Stock Performance
Shares of Bitwise Bitcoin ETF stock traded down $1.34 on Friday, hitting $42.05. 2,029,129 shares of the company’s stock traded hands, compared to its average volume of 2,383,417. The firm’s 50-day moving average price is $35.34 and its two-hundred day moving average price is $37.54. Bitwise Bitcoin ETF has a one year low of $31.49 and a one year high of $68.74.
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.
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