Franklin Bitcoin ETF (BATS:EZBC) Trading Down 2.7% – Should You Sell?

Franklin Bitcoin ETF (BATS:EZBC) shares fell 2.7% during trading on Wednesday . The stock traded as low as $37.68 and last traded at $37.77. 204,425 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 250,639 shares. The stock had previously closed at $38.83.

Franklin Bitcoin ETF Price Performance

The stock has a 50 day simple moving average of $42.83 and a 200 day simple moving average of $45.72.

Hedge Funds Weigh In On Franklin Bitcoin ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in EZBC. NewEdge Advisors LLC boosted its holdings in Franklin Bitcoin ETF by 108.1% in the first quarter. NewEdge Advisors LLC now owns 793 shares of the company’s stock valued at $31,000 after acquiring an additional 412 shares in the last quarter. Western Wealth Management LLC boosted its stake in shares of Franklin Bitcoin ETF by 35.7% during the 1st quarter. Western Wealth Management LLC now owns 5,690 shares of the company’s stock valued at $223,000 after purchasing an additional 1,498 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Franklin Bitcoin ETF by 11.0% during the first quarter. Cetera Investment Advisers now owns 157,303 shares of the company’s stock valued at $6,165,000 after buying an additional 15,632 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Franklin Bitcoin ETF in the first quarter worth about $49,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Franklin Bitcoin ETF by 424.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,324 shares of the company’s stock worth $248,000 after acquiring an additional 5,118 shares during the period.

Franklin Bitcoin ETF Company Profile

The Franklin Bitcoin ETF (EZBC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund seeks to replicate the performance of Bitcoin using a Benchmark Rate to determine its value. The fund does not directly invest in Bitcoin EZBC was launched on Jan 11, 2024 and is issued by Franklin Templeton.