Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Down 57.2% in July

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 113,531 shares, a drop of 57.2% from the July 15th total of 265,360 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 1,044,406 shares, the short-interest ratio is presently 0.1 days.

Bitwise Bitcoin ETF Stock Performance

BITB traded down $0.26 during trading on Friday, hitting $34.13. The stock had a trading volume of 566,150 shares, compared to its average volume of 2,409,616. The company has a 50 day moving average price of $34.37 and a 200-day moving average price of $37.78. Bitwise Bitcoin ETF has a one year low of $31.49 and a one year high of $68.74.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. GeoWealth Management LLC acquired a new position in shares of Bitwise Bitcoin ETF in the fourth quarter valued at about $32,000. EverSource Wealth Advisors LLC raised its stake in Bitwise Bitcoin ETF by 262.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Bitwise Bitcoin ETF by 53.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the company’s stock worth $44,000 after purchasing an additional 421 shares in the last quarter. Kingdom Financial Group LLC. acquired a new stake in Bitwise Bitcoin ETF in the 4th quarter worth about $65,000. Finally, Hollencrest Capital Management boosted its holdings in Bitwise Bitcoin ETF by 35.9% in the 4th quarter. Hollencrest Capital Management now owns 1,529 shares of the company’s stock valued at $73,000 after purchasing an additional 404 shares during the period.

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.