Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) Shares Down 0.4% – Should You Sell?

Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS)’s share price fell 0.4% during mid-day trading on Monday . The stock traded as low as $89.74 and last traded at $91.26. 5,436 shares changed hands during trading, a decline of 23% from the average session volume of 7,057 shares. The stock had previously closed at $91.66.

Global X Blockchain & Bitcoin Strategy ETF Price Performance

The stock has a market capitalization of $35.98 million, a P/E ratio of -183.69 and a beta of 2.23. The stock’s 50-day simple moving average is $71.30 and its 200 day simple moving average is $68.15.

Hedge Funds Weigh In On Global X Blockchain & Bitcoin Strategy ETF

A hedge fund recently bought a new stake in Global X Blockchain & Bitcoin Strategy ETF stock. Flow Traders U.S. LLC acquired a new stake in Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,024 shares of the company’s stock, valued at approximately $394,000. Flow Traders U.S. LLC owned approximately 1.59% of Global X Blockchain & Bitcoin Strategy ETF at the end of the most recent reporting period. 24.54% of the stock is currently owned by institutional investors.

Global X Blockchain & Bitcoin Strategy ETF Company Profile

The Global X Blockchain & Bitcoin Strategy ETF (BITS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund that aims to capture the long-term growth potential of blockchain companies and bitcoin futures. BITS was launched on Nov 15, 2021 and is managed by Global X.