VanEck Bitcoin Trust ETF (NYSEARCA:HODL) Shares Down 7.3% – Here’s What Happened

VanEck Bitcoin Trust ETF (NYSEARCA:HODL) dropped 7.3% on Monday . The stock traded as low as $21.41 and last traded at $22.01. Approximately 352,318 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,091,984 shares. The stock had previously closed at $23.75.

VanEck Bitcoin Trust ETF Price Performance

The firm has a 50-day simple moving average of $25.60 and a two-hundred day simple moving average of $24.56.

Hedge Funds Weigh In On VanEck Bitcoin Trust ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newton One Investments LLC acquired a new stake in shares of VanEck Bitcoin Trust ETF in the fourth quarter valued at $35,000. Avior Wealth Management LLC increased its holdings in VanEck Bitcoin Trust ETF by 136.5% during the 4th quarter. Avior Wealth Management LLC now owns 350 shares of the company’s stock worth $37,000 after purchasing an additional 202 shares during the period. EnRich Financial Partners LLC raised its position in VanEck Bitcoin Trust ETF by 27.2% in the 4th quarter. EnRich Financial Partners LLC now owns 1,413 shares of the company’s stock valued at $149,000 after purchasing an additional 302 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of VanEck Bitcoin Trust ETF by 230.4% in the 1st quarter. AdvisorNet Financial Inc now owns 1,900 shares of the company’s stock valued at $44,000 after buying an additional 1,325 shares during the period. Finally, Balentine LLC purchased a new position in shares of VanEck Bitcoin Trust ETF in the 4th quarter valued at about $205,000.

About VanEck Bitcoin Trust ETF

The VanEck Bitcoin Trust (HODL) is an exchange-traded fund that is based on the MarketVector Bitcoin Benchmark Rate index. The fund provides passive exposure to the price of Bitcoin through the purchase of shares, allowing investors to track the performance of Bitcoin without directly owning and managing the digital currency.