iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.3% Higher – Time to Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) rose 0.3% during trading on Thursday . The company traded as high as $57.99 and last traded at $57.91. Approximately 14,661,888 shares were traded during trading, a decline of 58% from the average daily volume of 34,498,984 shares. The stock had previously closed at $57.72.

iShares Bitcoin Trust Stock Performance

The company has a 50-day simple moving average of $45.62 and a 200-day simple moving average of $39.05.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of large investors have recently bought and sold shares of the business. Asset Dedication LLC grew its holdings in shares of iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of iShares Bitcoin Trust by 40.2% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock valued at $38,000 after acquiring an additional 304 shares in the last quarter. Bfsg LLC boosted its holdings in shares of iShares Bitcoin Trust by 34.7% in the second quarter. Bfsg LLC now owns 1,360 shares of the company’s stock valued at $46,000 after purchasing an additional 350 shares during the period. Doliver Advisors LP grew its stake in iShares Bitcoin Trust by 4.9% in the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock worth $273,000 after purchasing an additional 350 shares in the last quarter. Finally, Summit Global Investments increased its holdings in iShares Bitcoin Trust by 3.3% during the 3rd quarter. Summit Global Investments now owns 11,214 shares of the company’s stock worth $405,000 after purchasing an additional 355 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.