iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Up – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $43.69, but opened at $46.66. iShares Bitcoin Trust shares last traded at $47.43, with a volume of 24,873,540 shares traded.

iShares Bitcoin Trust Stock Up 3.0 %

The business’s 50 day moving average is $36.87 and its 200-day moving average is $36.32.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several institutional investors have recently modified their holdings of IBIT. Douglass Winthrop Advisors LLC acquired a new stake in iShares Bitcoin Trust in the 3rd quarter valued at approximately $201,000. Pekin Hardy Strauss Inc. raised its stake in shares of iShares Bitcoin Trust by 6.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 113,581 shares of the company’s stock valued at $4,104,000 after purchasing an additional 7,348 shares in the last quarter. Summit Trail Advisors LLC acquired a new stake in iShares Bitcoin Trust in the third quarter worth about $2,626,000. Centaurus Financial Inc. grew its position in iShares Bitcoin Trust by 18.8% in the 3rd quarter. Centaurus Financial Inc. now owns 10,438 shares of the company’s stock valued at $377,000 after buying an additional 1,655 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in iShares Bitcoin Trust by 25.9% during the 3rd quarter. Larson Financial Group LLC now owns 18,649 shares of the company’s stock valued at $674,000 after buying an additional 3,835 shares during the period.

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.