VanEck Bitcoin ETF (BATS:HODL) Reaches New 12-Month Low – Here’s Why

VanEck Bitcoin ETF (BATS:HODL)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $16.98 and last traded at $17.04, with a volume of 1330520 shares trading hands. The stock had previously closed at $17.97.

VanEck Bitcoin ETF Price Performance

The stock’s 50-day simple moving average is $21.02 and its 200 day simple moving average is $22.39.

Hedge Funds Weigh In On VanEck Bitcoin ETF

A number of large investors have recently modified their holdings of HODL. Integrated Wealth Concepts LLC lifted its position in shares of VanEck Bitcoin ETF by 280.7% during the first quarter. Integrated Wealth Concepts LLC now owns 9,250 shares of the company’s stock worth $216,000 after purchasing an additional 6,820 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of VanEck Bitcoin ETF during the first quarter worth approximately $4,206,000. EverSource Wealth Advisors LLC lifted its position in shares of VanEck Bitcoin ETF by 185.3% during the second quarter. EverSource Wealth Advisors LLC now owns 913 shares of the company’s stock worth $28,000 after purchasing an additional 593 shares in the last quarter. First Trust Advisors LP lifted its position in shares of VanEck Bitcoin ETF by 28.1% during the second quarter. First Trust Advisors LP now owns 180,605 shares of the company’s stock worth $5,503,000 after purchasing an additional 39,630 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of VanEck Bitcoin ETF by 97.7% during the second quarter. NewEdge Advisors LLC now owns 255,928 shares of the company’s stock worth $7,798,000 after purchasing an additional 126,483 shares in the last quarter.

About VanEck Bitcoin ETF

The VanEck Bitcoin Trust (HODL) is an exchange-traded fund that is based on the MarketVector Bitcoin Benchmark Rate index. The fund provides passive exposure to the price of Bitcoin through the purchase of shares, allowing investors to track the performance of Bitcoin without directly owning and managing the digital currency. HODL was launched on Jan 4, 2024 and is issued by VanEck.