Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Update

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 696,257 shares, a growth of 1,473.9% from the August 15th total of 44,237 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 1,927,063 shares, the days-to-cover ratio is presently 0.4 days.

Bitwise Bitcoin ETF Price Performance

Shares of NYSEARCA BITB traded down $0.57 during trading on Thursday, hitting $41.86. 811,166 shares of the company were exchanged, compared to its average volume of 2,320,658. Bitwise Bitcoin ETF has a 1 year low of $31.49 and a 1 year high of $68.74. The firm’s fifty day moving average price is $37.27 and its 200 day moving average price is $37.94.

Institutional Trading of Bitwise Bitcoin ETF

Institutional investors have recently added to or reduced their stakes in the stock. GeoWealth Management LLC acquired a new position in Bitwise Bitcoin ETF during the fourth quarter worth about $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. lifted its position 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 valued at $44,000 after acquiring an additional 421 shares during the period. Kingdom Financial Group LLC. acquired a new position in Bitwise Bitcoin ETF during the fourth quarter worth $65,000. Finally, Hollencrest Capital Management boosted its position 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 purchasing 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.