Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) Trading 7% Higher – Here’s What Happened

Shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) rose 7% during mid-day trading on Wednesday . The stock traded as high as $39.38 and last traded at $38.88. Approximately 12,454 shares traded hands during mid-day trading, an increase of 77% from the average daily volume of 7,056 shares. The stock had previously closed at $36.35.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Stock Performance

The business’s 50 day simple moving average is $36.71 and its two-hundred day simple moving average is $40.94.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 30th. Stockholders of record on Friday, December 26th were paid a $1.2256 dividend. This represents a dividend yield of 337.0%. The ex-dividend date was Friday, December 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BITC. Mariner LLC increased its stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 21.6% in the 4th quarter. Mariner LLC now owns 5,711 shares of the company’s stock worth $208,000 after purchasing an additional 1,013 shares in the last quarter. Jane Street Group LLC bought a new stake in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF during the fourth quarter valued at about $660,000. Dagco Inc. purchased a new stake in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF in the third quarter worth about $76,000. Brookwood Investment Group LLC raised its stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 13.7% in the third quarter. Brookwood Investment Group LLC now owns 5,039 shares of the company’s stock worth $228,000 after buying an additional 607 shares during the period. Finally, Atria Investments Inc lifted its position in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 18.4% during the 2nd quarter. Atria Investments Inc now owns 13,932 shares of the company’s stock valued at $632,000 after buying an additional 2,169 shares in the last quarter.

About Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of bitcoin futures contracts that exhibit the highest implied roll yield, collateralized by short-term debt securities. The fund seeks to provide capital appreciation with low correlation to traditional asset classes. BITC was launched on Mar 20, 2023 and is managed by Bitwise.