iShares Bitcoin Trust (NASDAQ:IBIT) Trading 6.4% Higher – Time to Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 6.4% during mid-day trading on Wednesday . The stock traded as high as $56.41 and last traded at $56.23. 27,692,662 shares were traded during trading, a decline of 21% from the average session volume of 35,241,980 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Price Performance

The stock’s 50-day simple moving average is $49.06 and its 200 day simple moving average is $40.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Asset Dedication LLC increased its holdings in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its stake in shares of iShares Bitcoin Trust by 40.2% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Bfsg LLC raised its holdings in shares of iShares Bitcoin Trust by 34.7% in the second quarter. Bfsg LLC now owns 1,360 shares of the company’s stock valued at $46,000 after buying an additional 350 shares during the last quarter. Doliver Advisors LP raised its holdings in shares of iShares Bitcoin Trust by 4.9% in the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after buying an additional 350 shares during the last quarter. Finally, Summit Global Investments lifted its position in iShares Bitcoin Trust by 3.3% during the 3rd quarter. Summit Global Investments now owns 11,214 shares of the company’s stock worth $405,000 after buying an additional 355 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.