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

Shares of Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) saw unusually-strong trading volume on Thursday . Approximately 143,632 shares traded hands during mid-day trading, an increase of 0% from the previous session’s volume of 143,115 shares.The stock last traded at $104.19 and had previously closed at $104.24.

Invesco Galaxy Bitcoin ETF Stock Performance

The firm’s 50 day moving average price is $97.34 and its two-hundred day moving average price is $75.51.

Institutional Trading of Invesco Galaxy Bitcoin ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc boosted its position in shares of Invesco Galaxy Bitcoin ETF by 32.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,540 shares of the company’s stock valued at $144,000 after acquiring an additional 380 shares during the period. Brookstone Capital Management grew its position in shares of Invesco Galaxy Bitcoin ETF by 23.8% during the 4th quarter. Brookstone Capital Management now owns 8,059 shares of the company’s stock worth $752,000 after purchasing an additional 1,547 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Invesco Galaxy Bitcoin ETF during the fourth quarter worth approximately $221,000. Fermata Advisors LLC bought a new position in Invesco Galaxy Bitcoin ETF during the 3rd quarter worth $238,000. Finally, Gilbert & Cook Inc. increased its position in shares of Invesco Galaxy Bitcoin ETF by 124.4% in 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.

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.