iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 4.1% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) shares shot up 4.1% during trading on Monday . The stock traded as high as $58.43 and last traded at $58.25. 22,772,903 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 31,276,016 shares. The stock had previously closed at $55.96.

iShares Bitcoin Trust Price Performance

The stock’s 50-day moving average is $51.97 and its 200-day moving average is $41.05.

Institutional Trading of iShares Bitcoin Trust

Hedge funds have recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc purchased a new stake in iShares Bitcoin Trust in the 2nd quarter worth about $26,000. Asset Dedication LLC boosted its position in iShares Bitcoin Trust by 52.4% during the third 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. West Financial Advisors LLC bought a new position in iShares Bitcoin Trust in the 3rd quarter worth $40,000. Brown Brothers Harriman & Co. acquired a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth about $43,000. Finally, Hollencrest Capital Management boosted its position in shares of iShares Bitcoin Trust by 256.7% in the second quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock valued at $45,000 after acquiring an additional 955 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.