Kerrisdale Advisers LLC Reduces Stock Position in Bitwise Bitcoin ETF (NYSEARCA:BITB)

Kerrisdale Advisers LLC trimmed its position in Bitwise Bitcoin ETF (NYSEARCA:BITB) by 46.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,358 shares of the company’s stock after selling 21,190 shares during the period. Kerrisdale Advisers LLC’s holdings in Bitwise Bitcoin ETF were worth $1,239,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Gleason Group Inc. acquired a new position in Bitwise Bitcoin ETF in the fourth quarter valued at $25,000. VisionPoint Advisory Group LLC acquired a new stake in Bitwise Bitcoin ETF during the 4th quarter worth approximately $56,000. Signaturefd LLC raised its holdings in Bitwise Bitcoin ETF by 819.7% in the fourth quarter. Signaturefd LLC now owns 1,214 shares of the company’s stock valued at $62,000 after buying an additional 1,082 shares during the period. JPMorgan Chase & Co. acquired a new position in Bitwise Bitcoin ETF during the fourth quarter valued at approximately $66,000. Finally, Hollencrest Capital Management increased its position in shares of Bitwise Bitcoin ETF by 257.2% in the fourth quarter. Hollencrest Capital Management now owns 1,518 shares of the company’s stock worth $77,000 after acquiring an additional 1,093 shares in the last quarter.

Bitwise Bitcoin ETF Stock Performance

NYSEARCA:BITB opened at $50.89 on Thursday. Bitwise Bitcoin ETF has a twelve month low of $27.02 and a twelve month high of $59.07. The firm’s fifty day simple moving average is $46.74 and its 200 day simple moving average is $48.18.

Bitwise Bitcoin ETF 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.