Financial Management Professionals Inc. Invests $282,000 in iShares Bitcoin Trust (NASDAQ:IBIT)

Financial Management Professionals Inc. purchased a new stake in shares of iShares Bitcoin Trust (NASDAQ:IBIT) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 6,976 shares of the company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signal Advisors Wealth LLC purchased a new position in shares of iShares Bitcoin Trust in the 1st quarter worth about $832,000. LexAurum Advisors LLC bought a new stake in iShares Bitcoin Trust during the 1st quarter valued at about $485,000. Salem Investment Counselors Inc. purchased a new position in iShares Bitcoin Trust in the first quarter worth about $41,000. Catalyst Private Wealth LLC bought a new position in shares of iShares Bitcoin Trust in the first quarter worth approximately $212,000. Finally, Traynor Capital Management Inc. purchased a new stake in shares of iShares Bitcoin Trust during the first quarter valued at approximately $3,666,000.

iShares Bitcoin Trust Stock Down 2.4 %

Shares of IBIT opened at $34.14 on Friday. iShares Bitcoin Trust has a twelve month low of $22.02 and a twelve month high of $41.99. The firm’s 50 day moving average price is $37.18.

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.