iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.3% – Time to Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) rose 0.3% during trading on Tuesday . The company traded as high as $56.00 and last traded at $54.90. Approximately 13,010,513 shares traded hands during trading, a decline of 62% from the average daily volume of 34,358,430 shares. The stock had previously closed at $54.73.

iShares Bitcoin Trust Stock Performance

The business’s 50 day simple moving average is $44.76 and its 200 day simple moving average is $38.81.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently bought and sold shares of the company. Garden State Investment Advisory Services LLC purchased a new stake in iShares Bitcoin Trust during the third quarter valued at about $656,000. Franklin Resources Inc. purchased a new stake in shares of iShares Bitcoin Trust in the third quarter worth approximately $1,107,000. Tidal Investments LLC lifted its position in shares of iShares Bitcoin Trust by 12.4% in the third quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after purchasing an additional 25,232 shares in the last quarter. World Investment Advisors LLC lifted its position in shares of iShares Bitcoin Trust by 31.1% in the third quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock worth $430,000 after purchasing an additional 2,823 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of iShares Bitcoin Trust by 723.2% in the third quarter. Sanctuary Advisors LLC now owns 88,811 shares of the company’s stock worth $3,209,000 after purchasing an additional 78,022 shares in the last quarter.

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.