Sovereign Financial Group Inc. Acquires Shares of 14,322 iShares Bitcoin Trust (NASDAQ:IBIT)

Sovereign Financial Group Inc. bought a new position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,322 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new position in iShares Bitcoin Trust during the first quarter worth about $30,000. Salem Investment Counselors Inc. purchased a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $41,000. Catalyst Private Wealth LLC acquired a new position in shares of iShares Bitcoin Trust during the 1st quarter worth approximately $212,000. LexAurum Advisors LLC purchased a new stake in iShares Bitcoin Trust in the 1st quarter valued at approximately $485,000. Finally, Signal Advisors Wealth LLC purchased a new stake in iShares Bitcoin Trust in the 1st quarter valued at approximately $832,000.

iShares Bitcoin Trust Stock Performance

Shares of NASDAQ:IBIT opened at $34.98 on Friday. iShares Bitcoin Trust has a one year low of $22.02 and a one year high of $41.99. The company’s fifty day moving average is $37.23.

About iShares Bitcoin Trust

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.