Short Interest in Bit Origin Ltd (NASDAQ:BTOG) Drops By 29.5%

Bit Origin Ltd (NASDAQ:BTOG) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 91,500 shares, a decrease of 29.5% from the October 15th total of 129,800 shares. Based on an average trading volume of 52,800 shares, the short-interest ratio is currently 1.7 days. Approximately 1.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Bit Origin

A hedge fund recently bought a new stake in Bit Origin stock. XTX Topco Ltd acquired a new position in Bit Origin Ltd (NASDAQ:BTOG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,749 shares of the company’s stock, valued at approximately $26,000. XTX Topco Ltd owned 0.16% of Bit Origin as of its most recent SEC filing. 1.07% of the stock is owned by hedge funds and other institutional investors.

Bit Origin Price Performance

Shares of NASDAQ:BTOG traded down $0.12 during midday trading on Friday, reaching $1.37. 177,303 shares of the company’s stock were exchanged, compared to its average volume of 293,814. The company’s 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $2.59. Bit Origin has a 12 month low of $1.28 and a 12 month high of $9.71.

About Bit Origin

Bit Origin Ltd, through its subsidiaries, engages in the cryptocurrency mining business in the United States. It is also involved in deploying blockchain technologies. The company was formerly known as China Xiangtai Food Co, Ltd. and changed its name to Bit Origin Ltd in April 2022. Bit Origin Ltd was incorporated in 2018 and is based in Singapore, Singapore.