BTCS (OTCMKTS:BTCS) Stock Crosses Below 50-Day Moving Average of $1.57

BTCS Inc. (OTCMKTS:BTCS)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.57 and traded as low as $1.46. BTCS shares last traded at $1.58, with a volume of 111,138 shares traded.

BTCS Price Performance

The company has a market capitalization of $24.79 million, a price-to-earnings ratio of 2.82 and a beta of 1.58. The firm’s 50-day simple moving average is $1.57 and its two-hundred day simple moving average is $1.36.

Hedge Funds Weigh In On BTCS

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in BTCS by 98.7% in the first quarter. Vanguard Group Inc. now owns 349,902 shares of the company’s stock valued at $1,463,000 after purchasing an additional 173,802 shares during the last quarter. Jane Street Group LLC purchased a new position in BTCS during the 1st quarter valued at about $242,000. State Street Corp acquired a new position in BTCS during the first quarter worth about $59,000. Vident Investment Advisory LLC purchased a new stake in shares of BTCS in the first quarter valued at about $47,000. Finally, Advisor Group Holdings Inc. grew its position in shares of BTCS by 39,627.8% in the first quarter. Advisor Group Holdings Inc. now owns 7,151 shares of the company’s stock valued at $30,000 after purchasing an additional 7,133 shares during the last quarter. 3.54% of the stock is owned by hedge funds and other institutional investors.

About BTCS

BTCS Inc focuses on blockchain infrastructure and staking in the United States. The company secures blockchain-infrastructure operations and operates validator nodes on disruptive next-generation blockchain networks. It offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms.