WisdomTree Bitcoin Fund (NYSEARCA:BTCW) Stock Price Up 5.2% – Here’s Why

WisdomTree Bitcoin Fund (NYSEARCA:BTCW)’s stock price traded up 5.2% during trading on Monday . The stock traded as high as $94.04 and last traded at $93.56. 57,874 shares traded hands during trading, a decline of 71% from the average session volume of 200,787 shares. The stock had previously closed at $88.92.

WisdomTree Bitcoin Fund Price Performance

The business has a 50-day moving average of $99.18 and a 200-day moving average of $90.58.

Hedge Funds Weigh In On WisdomTree Bitcoin Fund

A number of large investors have recently bought and sold shares of BTCW. Elequin Capital LP increased its position in WisdomTree Bitcoin Fund by 1,074.6% during the fourth quarter. Elequin Capital LP now owns 10,877 shares of the company’s stock worth $1,073,000 after buying an additional 9,951 shares in the last quarter. LPL Financial LLC purchased a new position in WisdomTree Bitcoin Fund during the fourth quarter worth approximately $490,000. Frazier Financial Advisors LLC acquired a new position in WisdomTree Bitcoin Fund in the fourth quarter valued at $63,000. Bank of New York Mellon Corp grew its stake in WisdomTree Bitcoin Fund by 71.1% during the fourth quarter. Bank of New York Mellon Corp now owns 115,108 shares of the company’s stock worth $11,355,000 after buying an additional 47,821 shares during the period. Finally, Private Advisor Group LLC acquired a new position in shares of WisdomTree Bitcoin Fund during the fourth quarter worth about $489,000.

About WisdomTree Bitcoin Fund

The WisdomTree Bitcoin Fund (BTCW) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund passively mirrors the performance of Bitcoin, leveraging a Benchmark Rate for valuation. The fund does not engage in direct investment or management of the digital currency BTCW was launched on Jan 11, 2024 and is issued by WisdomTree.