Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Down – Time to Sell?

Bitwise Bitcoin ETF (NYSEARCA:BITB) shares gapped down before the market opened on Monday . The stock had previously closed at $45.51, but opened at $42.39. Bitwise Bitcoin ETF shares last traded at $42.69, with a volume of 2,793,150 shares.

Bitwise Bitcoin ETF Trading Down 6.2%

The company has a 50-day moving average of $48.76 and a 200-day moving average of $56.58.

Institutional Trading of Bitwise Bitcoin ETF

Institutional investors have recently made changes to their positions in the company. Gunderson Capital Management Inc. lifted its position in shares of Bitwise Bitcoin ETF by 4.7% during the third quarter. Gunderson Capital Management Inc. now owns 4,120 shares of the company’s stock valued at $256,000 after purchasing an additional 184 shares in the last quarter. Advisory Resource Group boosted its stake in shares of Bitwise Bitcoin ETF by 5.3% in the 3rd quarter. Advisory Resource Group now owns 3,705 shares of the company’s stock worth $231,000 after buying an additional 185 shares during the last quarter. Weaver Consulting Group grew its holdings in shares of Bitwise Bitcoin ETF by 5.7% in the third quarter. Weaver Consulting Group now owns 3,753 shares of the company’s stock valued at $234,000 after acquiring an additional 202 shares in the last quarter. Leverty Financial Group LLC increased its position in shares of Bitwise Bitcoin ETF by 2.4% during the third quarter. Leverty Financial Group LLC now owns 9,409 shares of the company’s stock valued at $585,000 after acquiring an additional 224 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in 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 during the period.

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.