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

Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) shares saw unusually-high trading volume on Monday . Approximately 478,406 shares traded hands during mid-day trading, an increase of 131% from the previous session’s volume of 207,327 shares.The stock last traded at $101.90 and had previously closed at $101.40.

Invesco Galaxy Bitcoin ETF Price Performance

The business’s 50 day simple moving average is $98.66 and its 200 day simple moving average is $77.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BTCO. Tidal Investments LLC boosted its holdings in shares of Invesco Galaxy Bitcoin ETF by 44.1% during the third quarter. Tidal Investments LLC now owns 107,950 shares of the company’s stock worth $6,859,000 after acquiring an additional 33,038 shares during the period. IMC Chicago LLC acquired a new stake in Invesco Galaxy Bitcoin ETF during the 4th quarter worth approximately $6,223,000. 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 valued at $1,533,000 after purchasing an additional 12,937 shares during the period. Private Advisor Group LLC grew its holdings in Invesco Galaxy Bitcoin ETF by 27.2% in the 4th quarter. Private Advisor Group LLC now owns 19,766 shares of the company’s stock valued at $1,844,000 after buying an additional 4,226 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Invesco Galaxy Bitcoin ETF during the 3rd quarter worth $1,054,000.

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.