Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) Stock Price Down 0.5% – Here’s Why

Shares of Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) were down 0.5% during trading on Monday . The stock traded as low as $86.66 and last traded at $86.73. Approximately 79,567 shares were traded during trading, a decline of 52% from the average daily volume of 166,625 shares. The stock had previously closed at $87.14.

Invesco Galaxy Bitcoin ETF Price Performance

The company’s 50 day simple moving average is $95.16 and its two-hundred day simple moving average is $106.92.

Hedge Funds Weigh In On Invesco Galaxy Bitcoin ETF

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in Invesco Galaxy Bitcoin ETF by 173.5% during the third quarter. Tidal Investments LLC now owns 289,594 shares of the company’s stock valued at $33,017,000 after purchasing an additional 183,694 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Invesco Galaxy Bitcoin ETF by 936.2% during the 3rd quarter. Virtu Financial LLC now owns 102,645 shares of the company’s stock worth $11,702,000 after purchasing an additional 92,739 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of Invesco Galaxy Bitcoin ETF by 18.7% during the 3rd quarter. Cresset Asset Management LLC now owns 572,095 shares of the company’s stock worth $65,225,000 after purchasing an additional 90,000 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Invesco Galaxy Bitcoin ETF by 117.9% during the 2nd quarter. Cetera Investment Advisers now owns 66,427 shares of the company’s stock valued at $7,143,000 after buying an additional 35,943 shares during the last quarter. Finally, RPO LLC bought a new stake in shares of Invesco Galaxy Bitcoin ETF in the 2nd quarter valued at approximately $2,183,000.

Invesco Galaxy Bitcoin ETF Company Profile

The Invesco Galaxy Bitcoin ETF (BTCO) 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 spot price of Bitcoin. BTCO was launched on Jan 11, 2024 and is issued by Invesco.