iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Up – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $53.05, but opened at $54.90. iShares Bitcoin Trust shares last traded at $55.33, with a volume of 12,188,102 shares trading hands.

iShares Bitcoin Trust Stock Performance

The company has a 50 day moving average price of $51.97 and a 200 day moving average price of $41.02.

Institutional Investors Weigh In On iShares Bitcoin Trust

Institutional investors have recently modified their holdings of the business. Glass Jacobson Investment Advisors llc acquired a new stake in iShares Bitcoin Trust during the second quarter worth approximately $26,000. Asset Dedication LLC grew its holdings 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 in the last quarter. International Assets Investment Management LLC acquired a new position in iShares Bitcoin Trust in the second quarter valued at about $31,000. West Financial Advisors LLC acquired a new position in iShares Bitcoin Trust in the third quarter valued at about $40,000. Finally, Brown Brothers Harriman & Co. bought a new stake in iShares Bitcoin Trust during the second quarter worth about $43,000.

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.