iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.8% Higher – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) shares were up 0.8% during mid-day trading on Friday . The company traded as high as $60.29 and last traded at $60.20. Approximately 8,614,891 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 46,402,273 shares. The stock had previously closed at $59.72.

iShares Bitcoin Trust Stock Down 2.4 %

The stock has a fifty day moving average price of $56.17 and a 200-day moving average price of $44.02.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently modified their holdings of the stock. IMC Chicago LLC acquired a new stake in iShares Bitcoin Trust during the 3rd quarter valued at $323,337,000. Clear Street Derivatives LLC acquired a new stake in iShares Bitcoin Trust during the 3rd quarter valued at $23,686,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in iShares Bitcoin Trust during the 3rd quarter valued at $19,149,000. LMR Partners LLP increased its holdings in iShares Bitcoin Trust by 350.0% during the 3rd quarter. LMR Partners LLP now owns 630,000 shares of the company’s stock valued at $22,762,000 after purchasing an additional 490,000 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. increased its holdings in iShares Bitcoin Trust by 3,525.8% during the 4th quarter. Verde Servicos Internacionais S.A. now owns 435,100 shares of the company’s stock valued at $23,082,000 after purchasing an additional 423,100 shares in the last quarter.

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.