CCM Investment Advisers LLC Raises Stock Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

CCM Investment Advisers LLC lifted its stake in iShares Bitcoin Trust (NASDAQ:IBIT) by 79.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,885 shares of the company’s stock after purchasing an additional 6,140 shares during the period. CCM Investment Advisers LLC’s holdings in iShares Bitcoin Trust were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc bought a new position in iShares Bitcoin Trust in the 2nd quarter worth $26,000. Asset Dedication LLC raised its stake 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 buying an additional 279 shares during the period. West Financial Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter valued at about $40,000. Brown Brothers Harriman & Co. bought a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at approximately $43,000. Finally, Hollencrest Capital Management increased its holdings in iShares Bitcoin Trust by 256.7% in the 2nd quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock worth $45,000 after acquiring an additional 955 shares in the last quarter.

iShares Bitcoin Trust Price Performance

NASDAQ:IBIT traded down $0.12 during trading hours on Friday, hitting $53.22. 25,843,224 shares of the stock traded hands, compared to its average volume of 41,746,453. The stock has a 50 day moving average price of $53.13 and a 200 day moving average price of $41.53. iShares Bitcoin Trust has a 1 year low of $22.02 and a 1 year high of $61.75.

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.