Bitwise Bitcoin ETF (NYSEARCA:BITB) Sees Significant Decrease in Short Interest

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 405,477 shares, a decline of 41.8% from the August 31st total of 696,257 shares. Based on an average daily volume of 1,078,272 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.6% of the company’s stock are short sold.

Bitwise Bitcoin ETF Stock Performance

Shares of BITB stock traded up $0.41 during trading hours on Friday, reaching $46.36. 754,849 shares of the company’s stock were exchanged, compared to its average volume of 2,207,307. Bitwise Bitcoin ETF has a fifty-two week low of $31.49 and a fifty-two week high of $68.74. The stock’s 50 day moving average is $40.16 and its 200-day moving average is $38.68.

Institutional Trading of Bitwise Bitcoin ETF

Several large investors have recently bought and sold shares of the stock. Atomic Invest LLC grew its holdings in shares of Bitwise Bitcoin ETF by 34.4% during the second quarter. Atomic Invest LLC now owns 239,200 shares of the company’s stock valued at $7,833,000 after buying an additional 61,224 shares during the last quarter. RFG Advisory LLC lifted its position in Bitwise Bitcoin ETF by 34.9% during the 2nd quarter. RFG Advisory LLC now owns 114,140 shares of the company’s stock worth $3,636,000 after acquiring an additional 29,558 shares during the period. Waverly Advisors LLC lifted its position in Bitwise Bitcoin ETF by 29.2% during the 2nd quarter. Waverly Advisors LLC now owns 27,855 shares of the company’s stock worth $887,000 after acquiring an additional 6,292 shares during the period. Tenet Wealth Partners LLC purchased a new stake in Bitwise Bitcoin ETF during the 2nd quarter valued at about $216,000. Finally, Mason & Associates Inc increased its holdings in shares of Bitwise Bitcoin ETF by 2.6% in the second quarter. Mason & Associates Inc now owns 24,489 shares of the company’s stock valued at $780,000 after purchasing an additional 631 shares during the period.

About Bitwise Bitcoin ETF

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.