Shares of iShares Bitcoin Trust (NASDAQ:IBIT - Get Free Report) rose 2.1% during trading on Friday . The stock traded as high as $54.58 and last traded at $54.39. Approximately 23,384,004 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 45,792,207 shares. The stock had previously closed at $53.26.
iShares Bitcoin Trust Stock Performance
The stock's 50 day moving average is $48.79 and its two-hundred day moving average is $50.80.
Hedge Funds Weigh In On iShares Bitcoin Trust
A number of hedge funds and other institutional investors have recently made changes to their positions in IBIT. Andina Capital Management LLC raised its position in iShares Bitcoin Trust by 131.0% during the 4th quarter. Andina Capital Management LLC now owns 17,152 shares of the company's stock worth $910,000 after buying an additional 9,728 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in iShares Bitcoin Trust by 32.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company's stock worth $1,357,000 after acquiring an additional 9,266 shares during the period. Mutual Advisors LLC raised its position in iShares Bitcoin Trust by 65.8% in the fourth quarter. Mutual Advisors LLC now owns 157,060 shares of the company's stock worth $8,967,000 after acquiring an additional 62,338 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in shares of iShares Bitcoin Trust during the 3rd quarter worth $656,000. Finally, Stordahl Capital Management Inc. acquired a new position in iShares Bitcoin Trust during the fourth quarter worth about $253,000.
iShares Bitcoin Trust Company Profile
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The IShares Bitcoin Trust Registered (IBIT) 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. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.
Further Reading
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