Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) Shares Gap Up – Time to Buy?

Invesco Galaxy Bitcoin ETF (NYSEARCA:BTCO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $92.92, but opened at $96.70. Invesco Galaxy Bitcoin ETF shares last traded at $97.54, with a volume of 26,296 shares traded.

Invesco Galaxy Bitcoin ETF Stock Performance

The stock’s 50 day moving average is $85.58 and its 200-day moving average is $70.13.

Institutional Investors Weigh In On Invesco Galaxy Bitcoin ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTCO. Tidal Investments LLC increased its position in Invesco Galaxy Bitcoin ETF by 44.1% during the third quarter. Tidal Investments LLC now owns 107,950 shares of the company’s stock valued at $6,859,000 after acquiring an additional 33,038 shares during the last quarter. Quadrature Capital Ltd bought a new position in Invesco Galaxy Bitcoin ETF during the 3rd quarter valued at about $1,054,000. Arete Wealth Advisors LLC raised its position 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. Gilbert & Cook Inc. lifted its stake in 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 last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of Invesco Galaxy Bitcoin ETF during the third quarter valued at approximately $549,000.

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.