Magnus Financial Group LLC Acquires 330,457 Shares of iShares Bitcoin Trust (NASDAQ:IBIT)

Magnus Financial Group LLC increased its holdings in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 3,168.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 340,888 shares of the company’s stock after buying an additional 330,457 shares during the quarter. iShares Bitcoin Trust comprises about 1.7% of Magnus Financial Group LLC’s portfolio, making the stock its 11th largest holding. Magnus Financial Group LLC’s holdings in iShares Bitcoin Trust were worth $18,084,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBIT. Envestnet Asset Management Inc. lifted its stake in shares of iShares Bitcoin Trust by 42.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 108,497 shares of the company’s stock worth $3,704,000 after acquiring an additional 32,416 shares during the last quarter. Renaissance Technologies LLC bought a new stake in iShares Bitcoin Trust during the 2nd quarter valued at $505,000. Thrivent Financial for Lutherans raised its position in iShares Bitcoin Trust by 12.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,505 shares of the company’s stock valued at $529,000 after purchasing an additional 1,748 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in iShares Bitcoin Trust during the 2nd quarter valued at $216,000. Finally, Bank of Montreal Can raised its position in iShares Bitcoin Trust by 0.5% during the 2nd quarter. Bank of Montreal Can now owns 134,332 shares of the company’s stock valued at $4,586,000 after purchasing an additional 723 shares in the last quarter.

iShares Bitcoin Trust Stock Up 1.3 %

Shares of NASDAQ IBIT opened at $60.42 on Wednesday. The business has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $42.69. iShares Bitcoin Trust has a twelve month low of $22.02 and a twelve month 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.