Short Interest in Bitwise Bitcoin ETF (NYSEARCA:BITB) Grows By 254.8%

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 143,002 shares, an increase of 254.8% from the May 31st total of 40,308 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,327,613 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Bitwise Bitcoin ETF

Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in Bitwise Bitcoin ETF by 323.9% during the 4th quarter. Wells Fargo & Company MN now owns 821,082 shares of the company’s stock worth $39,051,000 after buying an additional 627,405 shares during the last quarter. Elequin Capital LP boosted its holdings in shares of Bitwise Bitcoin ETF by 962.9% during the third quarter. Elequin Capital LP now owns 393,733 shares of the company’s stock valued at $24,498,000 after acquiring an additional 356,688 shares during the period. Tidal Investments LLC grew its position in shares of Bitwise Bitcoin ETF by 168.9% during the third quarter. Tidal Investments LLC now owns 532,269 shares of the company’s stock worth $33,118,000 after acquiring an additional 334,296 shares during the last quarter. Consolidated Portfolio Review Corp increased its holdings in shares of Bitwise Bitcoin ETF by 2,352.8% in the 4th quarter. Consolidated Portfolio Review Corp now owns 336,325 shares of the company’s stock worth $15,996,000 after acquiring an additional 322,613 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Bitwise Bitcoin ETF by 40.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,105,512 shares of the company’s stock valued at $52,578,000 after purchasing an additional 315,860 shares during the period.

Bitwise Bitcoin ETF Trading Down 0.1%

Shares of Bitwise Bitcoin ETF stock traded down $0.04 during trading hours on Monday, reaching $32.33. The company’s stock had a trading volume of 1,144,636 shares, compared to its average volume of 2,760,337. Bitwise Bitcoin ETF has a one year low of $31.49 and a one year high of $68.74. The company’s 50 day simple moving average is $39.07 and its 200 day simple moving average is $41.26.

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.