Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Update

Bitwise Bitcoin ETF (NYSEARCA:BITB) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 44,237 shares, a decrease of 61.0% from the July 30th total of 113,531 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 871,251 shares, the short-interest ratio is presently 0.1 days.

Bitwise Bitcoin ETF Stock Down 3.1%

Bitwise Bitcoin ETF stock traded down $1.34 during midday trading on Friday, reaching $42.05. The stock had a trading volume of 2,029,129 shares, compared to its average volume of 2,383,417. The firm’s fifty day simple moving average is $35.34 and its 200-day simple moving average is $37.54. Bitwise Bitcoin ETF has a 1-year low of $31.49 and a 1-year high of $68.74.

Institutional Inflows and Outflows

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

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.