Bitwise Bitcoin Standard Corporations ETF (NYSEARCA:OWNB) Trading Down 4.9% – Should You Sell?

Shares of Bitwise Bitcoin Standard Corporations ETF (NYSEARCA:OWNB) traded down 4.9% during mid-day trading on Friday . The company traded as low as $21.79 and last traded at $22.05. 7,033 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 14,099 shares. The stock had previously closed at $23.19.

Bitwise Bitcoin Standard Corporations ETF Stock Performance

The firm’s 50-day simple moving average is $19.30 and its 200 day simple moving average is $22.29. The company has a market cap of $23.15 million, a P/E ratio of 20.01 and a beta of 2.95.

Institutional Investors Weigh In On Bitwise Bitcoin Standard Corporations ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ankerstar Wealth LLC acquired a new position in Bitwise Bitcoin Standard Corporations ETF in the fourth quarter valued at about $40,000. Brookwood Investment Group LLC grew its position in shares of Bitwise Bitcoin Standard Corporations ETF by 35.7% during the 4th quarter. Brookwood Investment Group LLC now owns 9,468 shares of the company’s stock worth $203,000 after buying an additional 2,491 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Bitwise Bitcoin Standard Corporations ETF in the 3rd quarter valued at about $934,000. Jane Street Group LLC bought a new stake in shares of Bitwise Bitcoin Standard Corporations ETF in the 2nd quarter valued at about $1,085,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Bitwise Bitcoin Standard Corporations ETF in the 3rd quarter valued at approximately $1,245,000.

Bitwise Bitcoin Standard Corporations ETF Company Profile

The Bitwise Bitcoin Standard Corporations ETF (OWNB) is an exchange-traded fund that trades on the NYSEARCA exchange in the United States.