iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 1.1% – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) rose 1.1% during trading on Monday . The company traded as high as $56.36 and last traded at $55.33. Approximately 27,383,704 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 43,851,234 shares. The stock had previously closed at $54.74.

iShares Bitcoin Trust Price Performance

The business’s 50-day moving average price is $56.26 and its 200 day moving average price is $45.65.

Hedge Funds Weigh In On iShares Bitcoin Trust

Institutional investors have recently bought and sold shares of the business. Creative Planning boosted its stake in shares of iShares Bitcoin Trust by 0.9% during the 3rd quarter. Creative Planning now owns 186,104 shares of the company’s stock worth $6,724,000 after acquiring an additional 1,632 shares during the period. Stratos Wealth Advisors LLC acquired a new stake in iShares Bitcoin Trust during the 3rd quarter valued at $241,000. Venture Visionary Partners LLC bought a new position in iShares Bitcoin Trust during the third quarter worth $350,000. Winch Advisory Services LLC acquired a new position in shares of iShares Bitcoin Trust in the third quarter valued at $107,000. Finally, Foundations Investment Advisors LLC raised its position in shares of iShares Bitcoin Trust by 79.6% in the third quarter. Foundations Investment Advisors LLC now owns 252,791 shares of the company’s stock valued at $9,133,000 after purchasing an additional 112,069 shares during the period.

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.