Bitwise Bitcoin ETF (NYSEARCA:BITB) Hits New 52-Week Low – Time to Sell?

by · The Markets Daily

Shares of Bitwise Bitcoin ETF (NYSEARCA:BITB – Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $39.58 and last traded at $41.0780, with a volume of 9038415 shares changing hands. The stock had previously closed at $42.34.

Bitwise Bitcoin ETF Stock Performance

The business has a 50-day moving average price of $48.64 and a two-hundred day moving average price of $56.43.

Institutional Trading of Bitwise Bitcoin ETF

Hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in shares of Bitwise Bitcoin ETF in the 3rd quarter valued at $29,000. Founders Capital Management increased its holdings in Bitwise Bitcoin ETF by 105.9% in the fourth quarter. Founders Capital Management now owns 700 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Bitwise Bitcoin ETF in the fourth quarter valued at $34,000. North Star Investment Management Corp. lifted its holdings in Bitwise Bitcoin ETF by 85.6% during the 3rd quarter. North Star Investment Management Corp. now owns 618 shares of the company’s stock worth $38,000 after buying an additional 285 shares during the last quarter. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Bitwise Bitcoin ETF during the 4th quarter worth about $38,000.

Bitwise Bitcoin ETF Company Profile

(Get Free Report)

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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