Bitwise Bitcoin ETF (NYSEARCA:BITB) Sees Large Increase in Short Interest

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 244,240 shares, a growth of 84.8% from the April 30th total of 132,135 shares. Based on an average daily trading volume, of 1,367,915 shares, the short-interest ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Bitwise Bitcoin ETF

A number of large investors have recently modified their holdings of BITB. Keel Point LLC raised its stake in Bitwise Bitcoin ETF by 56.7% in the first quarter. Keel Point LLC now owns 26,415 shares of the company’s stock valued at $972,000 after purchasing an additional 9,560 shares in the last quarter. Bank of America Corp DE raised its stake in Bitwise Bitcoin ETF by 134.2% in the first quarter. Bank of America Corp DE now owns 216,907 shares of the company’s stock valued at $7,984,000 after purchasing an additional 124,299 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Bitwise Bitcoin ETF by 39.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,238 shares of the company’s stock valued at $46,000 after purchasing an additional 350 shares in the last quarter. Seal Cove Capital LLC purchased a new stake in Bitwise Bitcoin ETF in the first quarter valued at approximately $1,297,000. Finally, Wealth Watch Advisors INC raised its stake in Bitwise Bitcoin ETF by 18.7% in the first quarter. Wealth Watch Advisors INC now owns 25,943 shares of the company’s stock valued at $955,000 after purchasing an additional 4,094 shares in the last quarter.

Bitwise Bitcoin ETF Stock Performance

BITB stock opened at $38.81 on Tuesday. The firm has a 50 day moving average of $40.51 and a 200-day moving average of $43.30. Bitwise Bitcoin ETF has a 12 month low of $33.81 and a 12 month high of $68.74.

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.