Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) Shares Down 0.4% – Here’s Why

Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) shares were down 0.4% during trading on Monday . The stock traded as low as $89.74 and last traded at $91.26. Approximately 5,436 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 7,057 shares. The stock had previously closed at $91.66.

Global X Blockchain & Bitcoin Strategy ETF Trading Up 1.1 %

The stock has a fifty day moving average of $71.30 and a two-hundred day moving average of $68.15. The stock has a market capitalization of $35.98 million, a price-to-earnings ratio of -183.69 and a beta of 2.23.

Hedge Funds Weigh In On Global X Blockchain & Bitcoin Strategy ETF

A hedge fund recently bought a new stake in Global X Blockchain & Bitcoin Strategy ETF stock. Flow Traders U.S. LLC acquired a new stake in shares of Global X Blockchain & Bitcoin Strategy ETF (NASDAQ:BITS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,024 shares of the company’s stock, valued at approximately $394,000. Flow Traders U.S. LLC owned 1.59% of Global X Blockchain & Bitcoin Strategy ETF as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 24.54% of the company’s stock.

About Global X Blockchain & Bitcoin Strategy ETF

The Global X Blockchain & Bitcoin Strategy ETF (BITS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund that aims to capture the long-term growth potential of blockchain companies and bitcoin futures. BITS was launched on Nov 15, 2021 and is managed by Global X.