Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Down 83.5% in May

Bitwise Bitcoin ETF (NYSEARCA:BITB) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 40,308 shares, a decrease of 83.5% from the May 14th total of 244,240 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 1,381,287 shares, the short-interest ratio is currently 0.0 days.

Bitwise Bitcoin ETF Price Performance

Shares of NYSEARCA:BITB traded up $0.01 during midday trading on Friday, hitting $34.52. 2,021,889 shares of the stock were exchanged, compared to its average volume of 2,849,994. Bitwise Bitcoin ETF has a 52-week low of $32.10 and a 52-week high of $68.74. The business’s fifty day simple moving average is $40.04 and its two-hundred day simple moving average is $42.41.

Institutional Trading of Bitwise Bitcoin ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Weaver Consulting Group raised its holdings in shares of Bitwise Bitcoin ETF by 5.7% during the third quarter. Weaver Consulting Group now owns 3,753 shares of the company’s stock worth $234,000 after acquiring an additional 202 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Bitwise Bitcoin ETF by 0.8% during the first quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock worth $1,318,000 after acquiring an additional 244 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Bitwise Bitcoin ETF by 1.7% during the second quarter. Captrust Financial Advisors now owns 15,127 shares of the company’s stock worth $886,000 after acquiring an additional 255 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Bitwise Bitcoin ETF by 7.8% during the third quarter. J.W. Cole Advisors Inc. now owns 3,878 shares of the company’s stock worth $241,000 after acquiring an additional 281 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its holdings in shares of Bitwise Bitcoin ETF by 4.0% during the third quarter. Cary Street Partners Financial LLC now owns 7,598 shares of the company’s stock worth $473,000 after acquiring an additional 295 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.