Foundations Investment Advisors LLC Invests $300,000 in Bitwise Bitcoin ETF (NYSEARCA:BITB)

Foundations Investment Advisors LLC acquired a new stake in Bitwise Bitcoin ETF (NYSEARCA:BITB) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 6,679 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new position in shares of Bitwise Bitcoin ETF during the 1st quarter worth $34,000. JPMorgan Chase & Co. purchased a new position in shares of Bitwise Bitcoin ETF during the 4th quarter worth $66,000. Hexagon Capital Partners LLC grew its holdings in shares of Bitwise Bitcoin ETF by 221.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the company’s stock worth $108,000 after purchasing an additional 1,652 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Bitwise Bitcoin ETF during the 1st quarter worth $141,000. Finally, MCF Advisors LLC purchased a new position in shares of Bitwise Bitcoin ETF during the 1st quarter worth $166,000.

Bitwise Bitcoin ETF Stock Performance

Shares of Bitwise Bitcoin ETF stock opened at $61.51 on Friday. The business has a 50-day moving average of $60.06 and a 200 day moving average of $53.83. Bitwise Bitcoin ETF has a 12 month low of $27.02 and a 12 month high of $66.49.

About Bitwise Bitcoin ETF

The Bitwise Bitcoin ETF Trust (BITB) 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 price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a multi-layer cold storage wallet. BITB was launched on Jan 10, 2024 and is issued by Bitwise.