iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.3% – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price were up 0.3% during trading on Thursday . The stock traded as high as $57.99 and last traded at $57.91. Approximately 14,661,888 shares changed hands during trading, a decline of 58% from the average daily volume of 34,498,984 shares. The stock had previously closed at $57.72.

iShares Bitcoin Trust Trading Up 1.7 %

The stock’s fifty day moving average price is $46.07 and its 200 day moving average price is $39.18.

Institutional Investors Weigh In On iShares Bitcoin Trust

Hedge funds have recently bought and sold shares of the business. Comerica Bank bought a new position in shares of iShares Bitcoin Trust during the first quarter valued at approximately $225,000. Wealth Enhancement Advisory Services LLC raised its stake in iShares Bitcoin Trust by 3.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 87,072 shares of the company’s stock valued at $2,973,000 after buying an additional 2,653 shares during the last quarter. Brookstone Capital Management boosted its holdings in iShares Bitcoin Trust by 11.0% in the second quarter. Brookstone Capital Management now owns 192,437 shares of the company’s stock worth $7,089,000 after acquiring an additional 19,051 shares in the last quarter. Gradient Investments LLC grew its stake in shares of iShares Bitcoin Trust by 42,832.1% in the second quarter. Gradient Investments LLC now owns 24,042 shares of the company’s stock worth $821,000 after acquiring an additional 23,986 shares during the last quarter. Finally, World Equity Group Inc. increased its holdings in shares of iShares Bitcoin Trust by 35.9% during the second quarter. World Equity Group Inc. now owns 6,876 shares of the company’s stock valued at $235,000 after acquiring an additional 1,815 shares in the last quarter.

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.