Private Advisor Group LLC Lowers Holdings in Bitwise Bitcoin ETF $BITB

Private Advisor Group LLC trimmed its holdings in Bitwise Bitcoin ETF (NYSEARCA:BITB) by 69.3% in the 1st quarter, HoldingsChannel reports. The fund owned 7,401 shares of the company’s stock after selling 16,719 shares during the quarter. Private Advisor Group LLC’s holdings in Bitwise Bitcoin ETF were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new stake in Bitwise Bitcoin ETF in the fourth quarter valued at $32,000. Founders Capital Management grew its holdings in shares of Bitwise Bitcoin ETF by 105.9% during the 4th quarter. Founders Capital Management now owns 700 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the period. Princeton Global Asset Management LLC purchased a new position in shares of Bitwise Bitcoin ETF during the 4th quarter worth $34,000. Lodestone Wealth Management LLC purchased a new position in shares of Bitwise Bitcoin ETF during the 4th quarter worth $38,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Bitwise Bitcoin ETF by 262.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares during the last quarter.

Bitwise Bitcoin ETF Price Performance

Shares of NYSEARCA:BITB opened at $34.82 on Friday. Bitwise Bitcoin ETF has a 12-month low of $31.49 and a 12-month high of $68.74. The business has a 50-day moving average price of $36.59 and a 200 day moving average price of $39.84.

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.