Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) Shares Gap Down – Time to Sell?

Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $93.80, but opened at $89.00. Invesco Galaxy Bitcoin ETF shares last traded at $87.30, with a volume of 72,438 shares changing hands.

Invesco Galaxy Bitcoin ETF Price Performance

The firm has a 50-day moving average price of $98.24 and a 200-day moving average price of $81.50.

Institutional Trading of Invesco Galaxy Bitcoin ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC boosted its position in shares of Invesco Galaxy Bitcoin ETF by 341.2% in the 4th quarter. Cresset Asset Management LLC now owns 485,360 shares of the company’s stock worth $45,289,000 after purchasing an additional 375,360 shares in the last quarter. Jane Street Group LLC boosted its holdings in Invesco Galaxy Bitcoin ETF by 111.3% in the fourth quarter. Jane Street Group LLC now owns 164,043 shares of the company’s stock worth $15,307,000 after acquiring an additional 86,396 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Invesco Galaxy Bitcoin ETF by 4.4% in the fourth quarter. Tidal Investments LLC now owns 112,670 shares of the company’s stock worth $10,513,000 after acquiring an additional 4,720 shares during the last quarter. IMC Chicago LLC bought a new position in shares of Invesco Galaxy Bitcoin ETF during the fourth quarter valued at $6,223,000. Finally, First Trust Advisors LP purchased a new position in shares of Invesco Galaxy Bitcoin ETF in the 4th quarter worth about $4,075,000.

About Invesco Galaxy Bitcoin ETF

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.