ARK 21Shares Bitcoin ETF (BATS:ARKB) Hits New 12-Month Low – Should You Sell?

ARK 21Shares Bitcoin ETF (BATS:ARKB) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.58 and last traded at $19.72, with a volume of 2320905 shares changing hands. The stock had previously closed at $20.68.

ARK 21Shares Bitcoin ETF Stock Performance

The stock’s 50 day moving average price is $24.16 and its two-hundred day moving average price is $25.44.

Hedge Funds Weigh In On ARK 21Shares Bitcoin ETF

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in shares of ARK 21Shares Bitcoin ETF during the fourth quarter valued at $31,000. MidFirst Bank acquired a new position in ARK 21Shares Bitcoin ETF in the 4th quarter valued at about $26,000. Ares Financial Consulting LLC purchased a new position in ARK 21Shares Bitcoin ETF in the 4th quarter valued at about $28,000. Comerica Bank lifted its holdings in ARK 21Shares Bitcoin ETF by 137.3% in the 4th quarter. Comerica Bank now owns 1,006 shares of the company’s stock valued at $29,000 after purchasing an additional 582 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of ARK 21Shares Bitcoin ETF during the 1st quarter worth about $26,000.

ARK 21Shares Bitcoin ETF Company Profile

The ARK 21Shares Bitcoin ETF Ben of Int (ARKB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, seeking to track the daily USD spot price of Bitcoin (BTC) through a buy-and-hold strategy focused on long-term BTC holdings. An investment in the fund is not a direct investment in Bitcoin. ARKB was launched on Jan 10, 2024 and is issued by ARK.