iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.8% – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price traded up 0.8% during trading on Wednesday . The company traded as high as $48.98 and last traded at $48.69. 10,517,087 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 44,058,324 shares. The stock had previously closed at $48.30.

iShares Bitcoin Trust Stock Up 2.5 %

The business’s fifty day moving average price is $52.14 and its two-hundred day moving average price is $49.09.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Union Savings Bank purchased a new stake in iShares Bitcoin Trust during the 4th quarter valued at $25,000. Vision Financial Markets LLC bought a new position in iShares Bitcoin Trust during the fourth quarter valued at $25,000. City Holding Co. raised its stake in shares of iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after acquiring an additional 238 shares during the period. Stephens Consulting LLC lifted its holdings in shares of iShares Bitcoin Trust by 62.8% in the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Finally, Crewe Advisors LLC boosted its stake in shares of iShares Bitcoin Trust by 151.0% during the 4th quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after purchasing an additional 302 shares during the period.

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.