iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 4.1% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price shot up 4.1% during mid-day trading on Monday . The stock traded as high as $58.43 and last traded at $58.25. 22,772,903 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 31,276,016 shares. The stock had previously closed at $55.96.

iShares Bitcoin Trust Stock Down 2.6 %

The company’s 50 day moving average is $52.61 and its 200-day moving average is $41.36.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several large investors have recently modified their holdings of IBIT. Glass Jacobson Investment Advisors llc bought a new stake in shares of iShares Bitcoin Trust during the second quarter worth approximately $26,000. Asset Dedication LLC grew its stake in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after acquiring an additional 279 shares in the last quarter. West Financial Advisors LLC bought a new position in iShares Bitcoin Trust during the third quarter worth about $40,000. Brown Brothers Harriman & Co. bought a new stake in iShares Bitcoin Trust in the 2nd quarter valued at about $43,000. Finally, Hollencrest Capital Management grew its position in shares of iShares Bitcoin Trust by 256.7% during the 2nd quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock worth $45,000 after purchasing an additional 955 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.