iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 3.2% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were up 3.2% during mid-day trading on Friday . The company traded as high as $47.37 and last traded at $46.63. Approximately 19,251,246 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 46,053,152 shares. The stock had previously closed at $45.17.

iShares Bitcoin Trust Price Performance

The business’s fifty day moving average is $49.70 and its two-hundred day moving average is $49.66.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in iShares Bitcoin Trust during the 3rd quarter valued at about $303,000. Orion Portfolio Solutions LLC raised its stake in shares of iShares Bitcoin Trust by 9.4% during the third quarter. Orion Portfolio Solutions LLC now owns 8,101 shares of the company’s stock valued at $293,000 after acquiring an additional 694 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of iShares Bitcoin Trust by 38.5% in the third quarter. SOA Wealth Advisors LLC. now owns 1,619 shares of the company’s stock valued at $58,000 after purchasing an additional 450 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new position in iShares Bitcoin Trust during the 3rd quarter worth $353,000. Finally, Sanctuary Advisors LLC raised its position in iShares Bitcoin Trust by 723.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 88,811 shares of the company’s stock valued at $3,209,000 after purchasing an additional 78,022 shares in 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.