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

Shares of Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) gapped down prior to trading on Thursday . The stock had previously closed at $98.57, but opened at $95.59. Invesco Galaxy Bitcoin ETF shares last traded at $95.09, with a volume of 24,214 shares trading hands.

Invesco Galaxy Bitcoin ETF Price Performance

The business’s 50-day moving average price is $88.45 and its 200 day moving average price is $71.04.

Institutional Investors Weigh In On Invesco Galaxy Bitcoin ETF

Several hedge funds have recently bought and sold shares of BTCO. Headlands Technologies LLC acquired a new stake in shares of Invesco Galaxy Bitcoin ETF in the second quarter valued at approximately $64,000. Fermata Advisors LLC bought a new stake in Invesco Galaxy Bitcoin ETF in the 3rd quarter valued at $238,000. Fortis Group Advisors LLC acquired a new stake in Invesco Galaxy Bitcoin ETF during the 3rd quarter valued at $549,000. Gilbert & Cook Inc. boosted its position in Invesco Galaxy Bitcoin ETF by 124.4% during the third quarter. Gilbert & Cook Inc. now owns 8,946 shares of the company’s stock worth $568,000 after purchasing an additional 4,960 shares during the period. Finally, Sea Otter Advisors LLC acquired a new position in shares of Invesco Galaxy Bitcoin ETF in the second quarter valued at $729,000.

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.