iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 0.7% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT) shares shot up 0.7% during mid-day trading on Thursday . The company traded as high as $60.39 and last traded at $59.81. 37,688,374 shares were traded during trading, a decline of 16% from the average session volume of 44,994,137 shares. The stock had previously closed at $59.38.

iShares Bitcoin Trust Stock Performance

The firm has a 50 day moving average price of $55.77 and a 200 day moving average price of $43.30.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds have recently modified their holdings of the business. IMC Chicago LLC bought a new position in iShares Bitcoin Trust in the third quarter worth approximately $323,337,000. Sculptor Capital LP raised its position 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 worth $115,831,000 after acquiring an additional 2,215,107 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after purchasing an additional 2,486,608 shares during the last quarter. Murchinson Ltd. boosted its position in iShares Bitcoin Trust by 87.1% during the second quarter. Murchinson Ltd. now owns 1,642,535 shares of the company’s stock valued at $56,076,000 after purchasing an additional 764,575 shares in the last quarter. Finally, Maplelane Capital LLC grew its stake in iShares Bitcoin Trust by 70.8% in the second quarter. Maplelane Capital LLC now owns 1,158,000 shares of the company’s stock valued at $39,534,000 after purchasing an additional 480,000 shares during 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.