iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.6% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.6% on Tuesday . The stock traded as high as $61.75 and last traded at $60.61. 22,034,213 shares changed hands during trading, a decline of 36% from the average session volume of 34,676,430 shares. The stock had previously closed at $60.22.

iShares Bitcoin Trust Price Performance

The business has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $39.74.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. IMC Chicago LLC bought a new stake in iShares Bitcoin Trust during the third quarter valued at about $323,337,000. Aristeia Capital L.L.C. grew its stake in shares of iShares Bitcoin Trust by 47.2% during the 2nd quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock valued at $202,806,000 after acquiring an additional 1,903,644 shares during the period. Sculptor Capital LP increased its holdings in 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. raised its stake in 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 acquiring an additional 2,486,608 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in iShares Bitcoin Trust during the second quarter valued at approximately $56,965,000.

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.