Bitwise Bitcoin ETF (NYSEARCA:BITB) Short Interest Update

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 244,240 shares, a growth of 84.8% from the April 30th total of 132,135 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 1,367,915 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BITB. Wells Fargo & Company MN boosted its holdings in shares of Bitwise Bitcoin ETF by 323.9% during the 4th quarter. Wells Fargo & Company MN now owns 821,082 shares of the company’s stock valued at $39,051,000 after buying an additional 627,405 shares in the last quarter. Elequin Capital LP boosted its stake in Bitwise Bitcoin ETF by 962.9% in the 3rd quarter. Elequin Capital LP now owns 393,733 shares of the company’s stock worth $24,498,000 after purchasing an additional 356,688 shares in the last quarter. Tidal Investments LLC boosted its stake in Bitwise Bitcoin ETF by 168.9% in the 3rd quarter. Tidal Investments LLC now owns 532,269 shares of the company’s stock worth $33,118,000 after purchasing an additional 334,296 shares in the last quarter. Consolidated Portfolio Review Corp boosted its stake in Bitwise Bitcoin ETF by 2,352.8% in the 4th quarter. Consolidated Portfolio Review Corp now owns 336,325 shares of the company’s stock worth $15,996,000 after purchasing an additional 322,613 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Bitwise Bitcoin ETF by 40.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,105,512 shares of the company’s stock worth $52,578,000 after purchasing an additional 315,860 shares in the last quarter.

Bitwise Bitcoin ETF Price Performance

BITB stock opened at $38.81 on Tuesday. Bitwise Bitcoin ETF has a one year low of $33.81 and a one year high of $68.74. The company’s 50 day moving average price is $40.51 and its two-hundred day moving average price is $43.30.

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.