Mechanics Financial Corp Invests $68,000 in iShares Bitcoin Trust ETF (NASDAQ:IBIT)

Mechanics Financial Corp bought a new position in shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) in the first quarter, Holdings Channel reports. The fund bought 1,450 shares of the company’s stock, valued at approximately $68,000.

A number of other large investors have also recently added to or reduced their stakes in IBIT. RWQ Financial Management Services Inc. raised its position in shares of iShares Bitcoin Trust ETF by 2,069.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 169,194 shares of the company’s stock worth $8,976,000 after purchasing an additional 161,394 shares during the period. Orvieto Partners L.P. acquired a new stake in shares of iShares Bitcoin Trust ETF during the fourth quarter worth $796,000. Scotia Capital Inc. raised its position in shares of iShares Bitcoin Trust ETF by 27.7% during the fourth quarter. Scotia Capital Inc. now owns 63,885 shares of the company’s stock worth $3,389,000 after purchasing an additional 13,847 shares during the period. Ancient Art L.P. purchased a new stake in shares of iShares Bitcoin Trust ETF in the 4th quarter valued at approximately $7,109,000. Finally, JBF Capital Inc. boosted its stake in iShares Bitcoin Trust ETF by 18.8% in the 4th quarter. JBF Capital Inc. now owns 247,000 shares of the company’s stock worth $13,103,000 after purchasing an additional 39,000 shares during the period.

iShares Bitcoin Trust ETF Trading Down 3.0%

NASDAQ IBIT opened at $66.16 on Wednesday. iShares Bitcoin Trust ETF has a twelve month low of $28.23 and a twelve month high of $69.46. The firm’s 50 day moving average price is $60.81 and its two-hundred day moving average price is $55.12.

iShares Bitcoin Trust ETF 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.