Invesco Galaxy Bitcoin ETF (BATS:BTCO) Stock Falls 2.6% – Here’s Why

Invesco Galaxy Bitcoin ETF (BATS:BTCO)’s stock price was down 2.6% during mid-day trading on Wednesday. The company traded as low as $82.44 and last traded at $82.94. 72,859 shares changed hands during trading, a decline of 31% from the average daily volume of 104,886 shares. The stock had previously closed at $85.17.

Invesco Galaxy Bitcoin ETF Stock Performance

The business has a fifty day moving average of $75.57 and a 200-day moving average of $71.33.

Institutional Investors Weigh In On Invesco Galaxy Bitcoin ETF

A number of institutional investors and hedge funds have recently modified their holdings of BTCO. Integrated Wealth Concepts LLC bought a new position in shares of Invesco Galaxy Bitcoin ETF in the second quarter valued at approximately $103,000. TD Waterhouse Canada Inc. bought a new stake in Invesco Galaxy Bitcoin ETF during the 2nd quarter worth approximately $35,000. Arete Wealth Advisors LLC increased its holdings in Invesco Galaxy Bitcoin ETF by 50.3% during the 1st quarter. Arete Wealth Advisors LLC now owns 46,051 shares of the company’s stock worth $3,102,000 after acquiring an additional 15,404 shares during the period. Western Wealth Management LLC purchased a new stake in Invesco Galaxy Bitcoin ETF in the 1st quarter worth approximately $40,000. Finally, Galaxy Digital Inc. purchased a new stake in Invesco Galaxy Bitcoin ETF in the 1st quarter worth approximately $48,916,000.

Invesco Galaxy Bitcoin ETF Company Profile

The Invesco Galaxy Bitcoin ETF (BTCO) 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 spot price of Bitcoin. BTCO was launched on Jan 11, 2024 and is issued by Invesco.