WisdomTree Bitcoin Fund (NYSEARCA:BTCW) Shares Down 2.6% – Here’s What Happened

WisdomTree Bitcoin Fund (NYSEARCA:BTCW)’s share price traded down 2.6% during trading on Friday . The company traded as low as $68.94 and last traded at $69.47. 25,152 shares traded hands during trading, a decline of 57% from the average session volume of 58,658 shares. The stock had previously closed at $71.33.

WisdomTree Bitcoin Fund Stock Performance

The firm’s 50 day simple moving average is $86.17 and its 200 day simple moving average is $103.30.

Hedge Funds Weigh In On WisdomTree Bitcoin Fund

Several institutional investors and hedge funds have recently modified their holdings of BTCW. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in WisdomTree Bitcoin Fund during the fourth quarter valued at approximately $99,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of WisdomTree Bitcoin Fund by 545.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,330 shares of the company’s stock valued at $161,000 after purchasing an additional 1,124 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of WisdomTree Bitcoin Fund in the 2nd quarter valued at $223,000. Nautilus Advisors LLC purchased a new stake in WisdomTree Bitcoin Fund during the third quarter worth $226,000. Finally, Great Valley Advisor Group Inc. grew its position in WisdomTree Bitcoin Fund by 4.8% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,960 shares of the company’s stock valued at $460,000 after buying an additional 225 shares during the period.

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.