iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.1% – Still a Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were up 0.1% during trading on Thursday . The company traded as high as $58.48 and last traded at $57.22. Approximately 21,053,906 shares were traded during trading, a decline of 40% from the average daily volume of 34,894,504 shares. The stock had previously closed at $57.18.

iShares Bitcoin Trust Stock Up 0.2 %

The business has a fifty day moving average price of $48.75 and a 200 day moving average price of $39.95.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds have recently modified their holdings of IBIT. Glass Jacobson Investment Advisors llc purchased a new stake in shares of iShares Bitcoin Trust during the second quarter valued at approximately $26,000. Asset Dedication LLC increased its position in shares of iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of iShares Bitcoin Trust in the second quarter worth about $31,000. Hantz Financial Services Inc. purchased a new position in iShares Bitcoin Trust in the second quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new stake in iShares Bitcoin Trust during the 3rd quarter valued at approximately $40,000.

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.