iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.3% – Here’s Why

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

iShares Bitcoin Trust Price Performance

The firm has a fifty day simple moving average of $46.07 and a two-hundred day simple moving average of $39.18.

Institutional Trading of iShares Bitcoin Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc bought a new position in iShares Bitcoin Trust in the 2nd quarter worth $26,000. Asset Dedication LLC raised its stake in iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in iShares Bitcoin Trust in the second quarter worth about $31,000. Hantz Financial Services Inc. bought a new stake in iShares Bitcoin Trust during the 2nd quarter valued at approximately $36,000. Finally, West Financial Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter worth approximately $40,000.

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.