Bitwise Bitcoin ETF (NYSEARCA:BITB – Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 40,308 shares, a drop of 83.5% from the May 14th total of 244,240 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 1,381,287 shares, the days-to-cover ratio is currently 0.0 days.
Bitwise Bitcoin ETF Stock Performance
Shares of BITB traded down $0.11 during trading hours on Wednesday, reaching $33.57. 1,450,708 shares of the company’s stock traded hands, compared to its average volume of 2,865,005. The firm’s 50 day simple moving average is $40.14 and its 200-day simple moving average is $42.58. Bitwise Bitcoin ETF has a 12 month low of $32.10 and a 12 month high of $68.74.
Hedge Funds Weigh In On Bitwise Bitcoin ETF
A number of large investors have recently bought and sold shares of the stock. Weaver Consulting Group increased its stake in Bitwise Bitcoin ETF by 5.7% in the 3rd quarter. Weaver Consulting Group now owns 3,753 shares of the company’s stock worth $234,000 after purchasing an additional 202 shares during the period. Focus Partners Wealth increased its stake in Bitwise Bitcoin ETF by 0.8% in the 1st quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock worth $1,318,000 after purchasing an additional 244 shares during the period. Captrust Financial Advisors increased its stake in Bitwise Bitcoin ETF by 1.7% in the 2nd quarter. Captrust Financial Advisors now owns 15,127 shares of the company’s stock worth $886,000 after purchasing an additional 255 shares during the period. J.W. Cole Advisors Inc. increased its stake in Bitwise Bitcoin ETF by 7.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,878 shares of the company’s stock worth $241,000 after purchasing an additional 281 shares during the period. Finally, Cary Street Partners Financial LLC increased its stake in shares of Bitwise Bitcoin ETF by 4.0% during the third quarter. Cary Street Partners Financial LLC now owns 7,598 shares of the company’s stock valued at $473,000 after buying an additional 295 shares during the period.
About Bitwise Bitcoin ETF
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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