Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) Stock Price Up 2.1% – Time to Buy?

Shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) rose 2.1% during mid-day trading on Wednesday . The company traded as high as $37.55 and last traded at $37.55. Approximately 2,330 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 6,820 shares. The stock had previously closed at $36.76.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Stock Performance

The firm’s 50 day moving average price is $36.84 and its 200 day moving average price is $39.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC grew its position 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 buying an additional 1,013 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF during the fourth quarter valued at approximately $660,000. Dagco Inc. purchased a new stake in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF in the third quarter worth $76,000. Finally, Brookwood Investment Group LLC lifted its stake in 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 acquiring an additional 607 shares during the period.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Company Profile

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.