ARK 21Shares Bitcoin ETF (BATS:ARKB) Hits New 12-Month Low – Here’s What Happened

ARK 21Shares Bitcoin ETF (BATS:ARKB) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $19.91 and last traded at $19.97, with a volume of 1532237 shares changing hands. The stock had previously closed at $21.08.

ARK 21Shares Bitcoin ETF Stock Performance

The business has a 50 day simple moving average of $24.65 and a 200-day simple moving average of $26.23.

Institutional Trading of ARK 21Shares Bitcoin ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in shares of ARK 21Shares Bitcoin ETF during the fourth quarter worth $31,000. NewEdge Advisors LLC raised its holdings in ARK 21Shares Bitcoin ETF by 18.4% during the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $1,288,000 after buying an additional 2,433 shares in the last quarter. Jump Financial LLC bought a new position in ARK 21Shares Bitcoin ETF during the second quarter valued at about $780,000. Raymond James Financial Inc. bought a new position in shares of ARK 21Shares Bitcoin ETF in the second quarter worth about $63,000. Finally, Vienna Asset Management LLC bought a new position in shares of ARK 21Shares Bitcoin ETF in the second quarter worth about $219,000.

About ARK 21Shares Bitcoin ETF

The ARK 21Shares Bitcoin ETF Ben of Int (ARKB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, seeking to track the daily USD spot price of Bitcoin (BTC) through a buy-and-hold strategy focused on long-term BTC holdings. An investment in the fund is not a direct investment in Bitcoin. ARKB was launched on Jan 10, 2024 and is issued by ARK.