WisdomTree Bitcoin Fund (NYSEARCA:BTCW) Trading Up 1.2% – Time to Buy?

WisdomTree Bitcoin Fund (NYSEARCA:BTCW)’s share price shot up 1.2% during mid-day trading on Friday . The company traded as high as $90.19 and last traded at $89.32. 180,187 shares were traded during mid-day trading, a decline of 6% from the average session volume of 191,418 shares. The stock had previously closed at $88.23.

WisdomTree Bitcoin Fund Price Performance

The business’s fifty day moving average price is $103.09 and its 200-day moving average price is $87.15.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BTCW. Elequin Capital LP increased its holdings in shares of WisdomTree Bitcoin Fund by 1,074.6% in the fourth quarter. Elequin Capital LP now owns 10,877 shares of the company’s stock worth $1,073,000 after purchasing an additional 9,951 shares during the period. LPL Financial LLC purchased a new position in WisdomTree Bitcoin Fund during the fourth quarter worth about $490,000. Frazier Financial Advisors LLC bought a new position in WisdomTree Bitcoin Fund in the 4th quarter worth about $63,000. Bank of New York Mellon Corp raised its holdings in shares of WisdomTree Bitcoin Fund by 71.1% in the 4th quarter. Bank of New York Mellon Corp now owns 115,108 shares of the company’s stock valued at $11,355,000 after acquiring an additional 47,821 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of WisdomTree Bitcoin Fund in the 4th quarter valued at about $489,000.

WisdomTree Bitcoin Fund Company Profile

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.