iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 2.6% – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price rose 2.6% during mid-day trading on Friday . The company traded as high as $60.58 and last traded at $60.33. Approximately 14,321,011 shares were traded during trading, a decline of 70% from the average daily volume of 48,432,621 shares. The stock had previously closed at $58.79.

iShares Bitcoin Trust Stock Performance

The stock’s 50 day simple moving average is $55.44 and its 200-day simple moving average is $43.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBIT. IMC Chicago LLC acquired a new position in iShares Bitcoin Trust during the 3rd quarter valued at approximately $323,337,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of iShares Bitcoin Trust by 1,657.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock valued at $90,014,000 after acquiring an additional 2,486,608 shares during the last quarter. Sculptor Capital LP boosted its holdings in shares of iShares Bitcoin Trust by 188.1% in the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock valued at $115,831,000 after acquiring an additional 2,215,107 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of iShares Bitcoin Trust in the 2nd quarter valued at $56,965,000. Finally, Murchinson Ltd. boosted its holdings in shares of iShares Bitcoin Trust by 87.1% in the 2nd quarter. Murchinson Ltd. now owns 1,642,535 shares of the company’s stock valued at $56,076,000 after acquiring an additional 764,575 shares during 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.