iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.1% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT) shot up 0.1% on Thursday . The company traded as high as $58.48 and last traded at $57.22. 21,053,906 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 34,894,504 shares. The stock had previously closed at $57.18.

iShares Bitcoin Trust Price Performance

The company has a 50-day moving average price of $48.75 and a 200-day moving average price of $39.95.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently bought and sold shares of IBIT. B. Riley Wealth Advisors Inc. lifted its stake in shares of iShares Bitcoin Trust by 32.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock worth $1,357,000 after purchasing an additional 9,266 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in iShares Bitcoin Trust in the 3rd quarter worth about $656,000. Franklin Resources Inc. purchased a new stake in iShares Bitcoin Trust in the 3rd quarter valued at about $1,107,000. Tidal Investments LLC lifted its holdings in shares of iShares Bitcoin Trust by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after acquiring an additional 25,232 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust by 31.1% during the 3rd quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock worth $430,000 after acquiring an additional 2,823 shares during the period.

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.