iShares Bitcoin Trust (NASDAQ:IBIT) Reaches New 12-Month High – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBITGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $42.47 and last traded at $42.41, with a volume of 11515901 shares changing hands. The stock had previously closed at $39.51.

iShares Bitcoin Trust Stock Performance

The business has a 50 day moving average of $36.34 and a 200-day moving average of $36.20.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of hedge funds have recently modified their holdings of IBIT. BNP Paribas Financial Markets purchased a new position in iShares Bitcoin Trust during the 1st quarter worth $42,000. Csenge Advisory Group acquired a new stake in shares of iShares Bitcoin Trust during the first quarter worth about $569,000. Monolith Management Ltd purchased a new position in shares of iShares Bitcoin Trust during the first quarter worth about $24,416,000. NTV Asset Management LLC purchased a new stake in iShares Bitcoin Trust during the 1st quarter valued at approximately $3,695,000. Finally, Smithfield Trust Co purchased a new stake in iShares Bitcoin Trust during the 1st quarter valued at approximately $509,000.

iShares Bitcoin Trust Company Profile

(Get Free Report)

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.

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