iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 5.3% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were up 5.3% on Tuesday . The company traded as high as $55.86 and last traded at $55.68. Approximately 11,466,628 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 35,168,070 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Trading Up 6.4 %

The business’s 50-day moving average is $49.42 and its 200-day moving average is $40.15.

Hedge Funds Weigh In On iShares Bitcoin Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Glass Jacobson Investment Advisors llc purchased a new position in iShares Bitcoin Trust during the second quarter valued at approximately $26,000. Asset Dedication LLC grew its stake in shares of iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares during the period. International Assets Investment Management LLC purchased a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at approximately $31,000. Hantz Financial Services Inc. acquired a new position in shares of iShares Bitcoin Trust in the 2nd quarter valued at $36,000. Finally, West Financial Advisors LLC purchased a new stake in iShares Bitcoin Trust during the third quarter worth $40,000.

iShares Bitcoin Trust Company Profile

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.