Sovereign Financial Group Inc. Acquires 3,623 Shares of iShares Bitcoin Trust (NASDAQ:IBIT)

Sovereign Financial Group Inc. lifted its stake in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 24.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,415 shares of the company’s stock after buying an additional 3,623 shares during the quarter. Sovereign Financial Group Inc.’s holdings in iShares Bitcoin Trust were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC purchased a new position in iShares Bitcoin Trust in the 1st quarter worth approximately $26,000. Glass Jacobson Investment Advisors llc purchased a new stake in iShares Bitcoin Trust during the 2nd quarter valued at $26,000. Sound Income Strategies LLC bought a new position in shares of iShares Bitcoin Trust during the 1st quarter valued at $30,000. Creekmur Asset Management LLC purchased a new position in shares of iShares Bitcoin Trust in the 1st quarter worth $30,000. Finally, International Assets Investment Management LLC bought a new stake in shares of iShares Bitcoin Trust in the second quarter worth $31,000.

iShares Bitcoin Trust Trading Down 1.8 %

iShares Bitcoin Trust stock opened at $35.40 on Wednesday. The stock has a fifty day moving average of $34.31 and a 200 day moving average of $36.13. iShares Bitcoin Trust has a one year low of $22.02 and a one year high of $41.99.

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.