Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) Shares Gap Up – Still a Buy?

Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $93.31, but opened at $96.40. Invesco Galaxy Bitcoin ETF shares last traded at $96.21, with a volume of 41,509 shares trading hands.

Invesco Galaxy Bitcoin ETF Stock Up 1.0 %

The firm’s fifty day moving average is $91.25 and its 200 day moving average is $72.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP grew its position in shares of Invesco Galaxy Bitcoin ETF by 63.2% in the second quarter. Susquehanna International Group LLP now owns 271,253 shares of the company’s stock valued at $16,207,000 after purchasing an additional 105,053 shares in the last quarter. Sea Otter Advisors LLC acquired a new position in Invesco Galaxy Bitcoin ETF during the second quarter worth $729,000. Fermata Advisors LLC purchased a new stake in Invesco Galaxy Bitcoin ETF in the 3rd quarter valued at $238,000. Fortis Group Advisors LLC acquired a new stake in shares of Invesco Galaxy Bitcoin ETF in the 3rd quarter worth $549,000. Finally, Headlands Technologies LLC purchased a new position in shares of Invesco Galaxy Bitcoin ETF during the 2nd quarter worth $64,000.

About Invesco Galaxy Bitcoin ETF

The Invesco Galaxy Bitcoin ETF (BTCO) 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 spot price of Bitcoin. BTCO was launched on Jan 11, 2024 and is issued by Invesco.