Magnus Financial Group LLC Takes $7.73 Million Position in Bitwise Bitcoin ETF (NYSEARCA:BITB)

Magnus Financial Group LLC acquired a new stake in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 172,152 shares of the company’s stock, valued at approximately $7,726,000. Bitwise Bitcoin ETF makes up 0.7% of Magnus Financial Group LLC’s investment portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new position in Bitwise Bitcoin ETF in the 4th quarter worth about $516,000. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Bitwise Bitcoin ETF by 67.0% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 14,410 shares of the company’s stock worth $733,000 after buying an additional 5,780 shares during the last quarter. Brandywine Oak Private Wealth LLC raised its stake in shares of Bitwise Bitcoin ETF by 40.1% in the fourth quarter. Brandywine Oak Private Wealth LLC now owns 11,672 shares of the company’s stock valued at $594,000 after purchasing an additional 3,339 shares in the last quarter. Silver Oak Securities Incorporated grew its position in Bitwise Bitcoin ETF by 237.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 38,500 shares of the company’s stock valued at $1,976,000 after acquiring an additional 27,093 shares during the period. Finally, Consolidated Portfolio Review Corp grew its holdings in shares of Bitwise Bitcoin ETF by 42.9% during the fourth quarter. Consolidated Portfolio Review Corp now owns 9,396 shares of the company’s stock worth $478,000 after purchasing an additional 2,820 shares during the last quarter.

Bitwise Bitcoin ETF Trading Down 3.0%

Bitwise Bitcoin ETF stock opened at $55.44 on Friday. Bitwise Bitcoin ETF has a 12-month low of $27.02 and a 12-month high of $60.98. The business’s 50-day simple moving average is $51.83 and its 200 day simple moving average is $51.66.

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.