Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) Trading 5.9% Higher – Still a Buy?

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC)’s share price traded up 5.9% on Thursday . The stock traded as high as $42.28 and last traded at $42.28. Approximately 1,807 shares were traded during trading, a decline of 60% from the average daily volume of 4,514 shares. The stock had previously closed at $39.92.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Price Performance

The company’s 50 day simple moving average is $37.24 and its 200 day simple moving average is $37.83.

Institutional Trading of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF

A hedge fund recently raised its stake in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF stock. Jane Street Group LLC raised its holdings in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) by 78.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,157 shares of the company’s stock after purchasing an additional 4,450 shares during the quarter. Jane Street Group LLC owned 2.26% of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Company Profile

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of bitcoin futures contracts that exhibit the highest implied roll yield, collateralized by short-term debt securities. The fund seeks to provide capital appreciation with low correlation to traditional asset classes. BITC was launched on Mar 20, 2023 and is managed by Bitwise.