iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report)’s share price rose 3.2% during mid-day trading on Tuesday . The stock traded as high as $34.74 and last traded at $34.70. Approximately 3,905,247 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 31,220,426 shares. The stock had previously closed at $33.62.
iShares Bitcoin Trust Stock Performance
The stock has a 50-day simple moving average of $35.38 and a 200 day simple moving average of $35.79.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aristeia Capital L.L.C. increased its stake in shares of iShares Bitcoin Trust by 47.2% in the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock worth $202,806,000 after acquiring an additional 1,903,644 shares during the last quarter. Sculptor Capital LP increased its position in iShares Bitcoin Trust by 188.1% in the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after purchasing an additional 2,215,107 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after purchasing an additional 2,486,608 shares in the last quarter. Bracebridge Capital LLC acquired a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at about $100,639,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of iShares Bitcoin Trust in the 2nd quarter valued at approximately $56,965,000.
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.
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