Bitwise Bitcoin ETF (NYSEARCA:BITB) Sees Significant Decline in Short Interest

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

Hedge Funds Weigh In On Bitwise Bitcoin ETF

Several hedge funds have recently made changes to their positions in BITB. Focus Partners Wealth boosted its holdings in Bitwise Bitcoin ETF by 0.8% in the first quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock valued at $1,318,000 after acquiring an additional 244 shares in the last quarter. Captrust Financial Advisors raised its holdings 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 in the last quarter. Parallel Advisors LLC lifted its position in shares of Bitwise Bitcoin ETF by 5.4% in the 1st quarter. Parallel Advisors LLC now owns 5,905 shares of the company’s stock worth $217,000 after purchasing an additional 303 shares during the period. NewEdge Wealth LLC lifted its position in shares of Bitwise Bitcoin ETF by 4.3% in the 4th quarter. NewEdge Wealth LLC now owns 7,609 shares of the company’s stock worth $362,000 after purchasing an additional 312 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Bitwise Bitcoin ETF by 6.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,358 shares of the company’s stock valued at $333,000 after purchasing an additional 319 shares in the last quarter.

Bitwise Bitcoin ETF Stock Down 0.8%

Shares of NYSEARCA BITB traded down $0.26 during trading hours on Friday, hitting $34.13. The company’s stock had a trading volume of 566,150 shares, compared to its average volume of 2,409,616. Bitwise Bitcoin ETF has a 12 month low of $31.49 and a 12 month high of $68.74. The business has a 50-day simple moving average of $34.37 and a 200-day simple moving average of $37.71.

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.