iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.1% Higher – What’s Next?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.1% on Thursday . The stock traded as high as $58.48 and last traded at $57.22. 21,053,906 shares changed hands during 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 Stock Down 2.9 %

The business has a 50 day simple moving average of $47.96 and a 200-day simple moving average of $39.74.

Institutional Trading of iShares Bitcoin Trust

Large investors have recently bought and sold shares of the business. Summit Global Investments boosted its holdings in shares of iShares Bitcoin Trust by 33.1% in the second quarter. Summit Global Investments now owns 10,859 shares of the company’s stock valued at $371,000 after buying an additional 2,703 shares during the period. Fifth Third Bancorp grew its stake in shares of iShares Bitcoin Trust by 60.8% during the 2nd quarter. Fifth Third Bancorp now owns 5,700 shares of the company’s stock worth $195,000 after acquiring an additional 2,155 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of iShares Bitcoin Trust by 65.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,310 shares of the company’s stock valued at $523,000 after purchasing an additional 6,056 shares during the last quarter. Capital Wealth Alliance LLC bought a new stake in shares of iShares Bitcoin Trust in the second quarter worth $345,000. Finally, Secure Asset Management LLC acquired a new position in iShares Bitcoin Trust during the second quarter worth $1,380,000.

About iShares Bitcoin Trust

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.