Short Interest in Bitwise Bitcoin ETF (NYSEARCA:BITB) Declines By 83.5%

Bitwise Bitcoin ETF (NYSEARCA:BITB) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 40,308 shares, a drop of 83.5% from the May 14th total of 244,240 shares. Based on an average daily volume of 1,381,287 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Several large investors have recently modified their holdings of the stock. Weaver Consulting Group boosted its stake in shares of Bitwise Bitcoin ETF by 5.7% during the 3rd quarter. Weaver Consulting Group now owns 3,753 shares of the company’s stock worth $234,000 after acquiring an additional 202 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Bitwise Bitcoin ETF by 0.8% in the first quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock worth $1,318,000 after buying an additional 244 shares during the period. Captrust Financial Advisors boosted its position in shares of Bitwise Bitcoin ETF by 1.7% in the second quarter. Captrust Financial Advisors now owns 15,127 shares of the company’s stock worth $886,000 after buying an additional 255 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Bitwise Bitcoin ETF by 7.8% in the third quarter. J.W. Cole Advisors Inc. now owns 3,878 shares of the company’s stock worth $241,000 after buying an additional 281 shares during the period. Finally, Cary Street Partners Financial LLC boosted its position in shares of Bitwise Bitcoin ETF by 4.0% in the third quarter. Cary Street Partners Financial LLC now owns 7,598 shares of the company’s stock worth $473,000 after buying an additional 295 shares during the period.

Bitwise Bitcoin ETF Stock Up 2.7%

Shares of BITB stock traded up $0.90 during mid-day trading on Thursday, hitting $34.51. 1,692,707 shares of the stock traded hands, compared to its average volume of 2,858,115. Bitwise Bitcoin ETF has a twelve month low of $32.10 and a twelve month high of $68.74. The company’s 50-day simple moving average is $40.04 and its 200-day simple moving average is $42.41.

Bitwise Bitcoin ETF Company Profile

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.