NewEdge Wealth LLC Buys 78,038 Shares of iShares Bitcoin Trust (NASDAQ:IBIT)

NewEdge Wealth LLC raised its stake in iShares Bitcoin Trust (NASDAQ:IBIT) by 161.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,437 shares of the company’s stock after purchasing an additional 78,038 shares during the quarter. NewEdge Wealth LLC’s holdings in iShares Bitcoin Trust were worth $6,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Union Savings Bank bought a new position in shares of iShares Bitcoin Trust during the 4th quarter worth approximately $25,000. City Holding Co. boosted its stake in shares of iShares Bitcoin Trust by 95.2% during the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after acquiring an additional 238 shares during the period. Stephens Consulting LLC boosted its stake in shares of iShares Bitcoin Trust by 62.8% during the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after acquiring an additional 189 shares during the period. Crewe Advisors LLC boosted its stake in shares of iShares Bitcoin Trust by 151.0% during the 4th quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after acquiring an additional 302 shares during the period. Finally, Beacon Capital Management LLC acquired a new stake in iShares Bitcoin Trust during the 4th quarter worth approximately $28,000.

iShares Bitcoin Trust Price Performance

NASDAQ:IBIT opened at $47.35 on Friday. The stock has a 50 day simple moving average of $55.39 and a 200 day simple moving average of $46.53. iShares Bitcoin Trust has a 1-year low of $28.23 and a 1-year high of $61.75.

iShares Bitcoin Trust 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.