Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC) Trading 7% Higher – Should You Buy?

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (NYSEARCA:BITC)’s share price shot up 7% during mid-day trading on Wednesday . The stock traded as high as $39.38 and last traded at $38.88. 12,454 shares were traded during mid-day trading, an increase of 77% from the average session volume of 7,056 shares. The stock had previously closed at $36.35.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Trading Down 4.4%

The stock’s fifty day simple moving average is $36.71 and its two-hundred day simple moving average is $40.92.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 30th. Investors of record on Friday, December 26th were paid a $1.2256 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a dividend yield of 337.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BITC. Jane Street Group LLC increased its stake in shares of Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 78.0% in the first quarter. Jane Street Group LLC now owns 10,157 shares of the company’s stock valued at $422,000 after buying an additional 4,450 shares during the period. Atria Investments Inc boosted its holdings in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 18.4% in the second quarter. Atria Investments Inc now owns 13,932 shares of the company’s stock valued at $632,000 after acquiring an additional 2,169 shares during the last quarter. Brookwood Investment Group LLC boosted its holdings in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 13.7% in the third quarter. Brookwood Investment Group LLC now owns 5,039 shares of the company’s stock valued at $228,000 after acquiring an additional 607 shares during the last quarter. Dagco Inc. acquired a new stake in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF during the 3rd quarter valued at approximately $76,000. Finally, Mariner LLC raised its holdings in Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF by 21.6% during the 4th quarter. Mariner LLC now owns 5,711 shares of the company’s stock worth $208,000 after purchasing an additional 1,013 shares during the last quarter.

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF Company Profile

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of bitcoin futures contracts that exhibit the highest implied roll yield, collateralized by short-term debt securities. The fund seeks to provide capital appreciation with low correlation to traditional asset classes. BITC was launched on Mar 20, 2023 and is managed by Bitwise.