iShares Bitcoin Trust ETF (NASDAQ:IBIT) Shares Up 5% – Here’s Why

iShares Bitcoin Trust ETF (NASDAQ:IBIT) shot up 5% during mid-day trading on Friday . The company traded as high as $45.59 and last traded at $45.4480. 19,063,376 shares were traded during trading, a decline of 64% from the average session volume of 53,015,977 shares. The stock had previously closed at $43.30.

iShares Bitcoin Trust ETF Stock Performance

The company’s fifty day moving average price is $39.70 and its two-hundred day moving average price is $39.83.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IBIT. TD Waterhouse Canada Inc. raised its stake in shares of iShares Bitcoin Trust ETF by 3.6% in the second quarter. TD Waterhouse Canada Inc. now owns 7,015 shares of the company’s stock valued at $238,000 after buying an additional 243 shares during the period. Retirement Planning Group LLC grew its stake in shares of iShares Bitcoin Trust ETF by 2.0% during the 1st quarter. Retirement Planning Group LLC now owns 12,783 shares of the company’s stock worth $491,000 after acquiring an additional 245 shares during the period. Investment Partners LTD. increased its holdings in iShares Bitcoin Trust ETF by 0.6% in the 4th quarter. Investment Partners LTD. now owns 42,162 shares of the company’s stock worth $2,093,000 after acquiring an additional 250 shares during the last quarter. Forum Financial Management LP raised its stake in iShares Bitcoin Trust ETF by 1.8% in the 1st quarter. Forum Financial Management LP now owns 15,698 shares of the company’s stock valued at $603,000 after acquiring an additional 279 shares during the period. Finally, Wealth Preservation Advisors LLC lifted its holdings in iShares Bitcoin Trust ETF by 13.8% during the fourth quarter. Wealth Preservation Advisors LLC now owns 2,303 shares of the company’s stock valued at $114,000 after purchasing an additional 280 shares during the last quarter.

About iShares Bitcoin Trust ETF

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.