iShares Bitcoin Trust (NASDAQ:IBIT) Trading 3.5% Higher – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) were up 3.5% during mid-day trading on Thursday . The company traded as high as $55.45 and last traded at $54.92. Approximately 16,443,831 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 35,205,520 shares. The stock had previously closed at $53.05.

iShares Bitcoin Trust Trading Up 1.1 %

The company’s 50 day moving average price is $51.97 and its 200 day moving average price is $41.02.

Institutional Trading of iShares Bitcoin Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc acquired a new position in iShares Bitcoin Trust in the second quarter valued at approximately $26,000. Asset Dedication LLC increased its holdings in shares of 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. International Assets Investment Management LLC acquired a new position in shares of iShares Bitcoin Trust in the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in iShares Bitcoin Trust during the third quarter worth $40,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in iShares Bitcoin Trust during the second quarter valued at $43,000.

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.