Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) saw unusually-high trading volume on Monday . Approximately 523,155 shares changed hands during mid-day trading, an increase of 131% from the previous session’s volume of 226,466 shares.The stock last traded at $96.93 and had previously closed at $95.67.

Invesco Galaxy Bitcoin ETF Stock Up 1.9 %

The company’s 50 day simple moving average is $98.96 and its 200 day simple moving average is $79.28.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC acquired a new position in shares of Invesco Galaxy Bitcoin ETF in the third quarter valued at approximately $549,000. Gilbert & Cook Inc. lifted its position in Invesco Galaxy Bitcoin ETF by 124.4% in the 3rd quarter. Gilbert & Cook Inc. now owns 8,946 shares of the company’s stock valued at $568,000 after acquiring an additional 4,960 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in Invesco Galaxy Bitcoin ETF by 115.1% in the 3rd quarter. Arete Wealth Advisors LLC now owns 24,181 shares of the company’s stock worth $1,533,000 after purchasing an additional 12,937 shares during the period. Quadrature Capital Ltd bought a new position in Invesco Galaxy Bitcoin ETF during the 3rd quarter worth about $1,054,000. Finally, Tidal Investments LLC increased its holdings in Invesco Galaxy Bitcoin ETF by 44.1% during the 3rd quarter. Tidal Investments LLC now owns 107,950 shares of the company’s stock worth $6,859,000 after purchasing an additional 33,038 shares in the last quarter.

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.