Bitwise Bitcoin ETF (NYSEARCA:BITB) Stock Price Up 4.9% – Here’s Why

Bitwise Bitcoin ETF (NYSEARCA:BITB) shot up 4.9% on Friday . The stock traded as high as $43.68 and last traded at $43.5460. 407,271 shares changed hands during trading, a decline of 82% from the average session volume of 2,275,559 shares. The stock had previously closed at $41.53.

Bitwise Bitcoin ETF Stock Performance

The stock’s 50 day moving average is $38.03 and its 200-day moving average is $38.15.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Large investors have recently modified their holdings of the business. Evoke Wealth LLC acquired a new stake in Bitwise Bitcoin ETF in the 4th quarter valued at $1,074,000. Savant Capital LLC lifted its stake in Bitwise Bitcoin ETF by 535.9% in the fourth quarter. Savant Capital LLC now owns 30,053 shares of the company’s stock worth $1,429,000 after acquiring an additional 25,327 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Bitwise Bitcoin ETF by 18.9% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 768,789 shares of the company’s stock valued at $36,564,000 after purchasing an additional 122,276 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Bitwise Bitcoin ETF by 134.2% in the 1st quarter. Bank of America Corp DE now owns 216,907 shares of the company’s stock valued at $7,984,000 after purchasing an additional 124,299 shares in the last quarter. Finally, Arax Advisory Partners grew its stake in shares of Bitwise Bitcoin ETF by 143.7% during the fourth quarter. Arax Advisory Partners now owns 29,205 shares of the company’s stock worth $1,389,000 after purchasing an additional 17,223 shares in the last quarter.

Bitwise Bitcoin ETF Company Profile

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.