iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.3% – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.3% on Monday . The company traded as high as $56.36 and last traded at $55.21. 30,337,331 shares were traded during mid-day trading, a decline of 10% from the average session volume of 33,846,176 shares. The stock had previously closed at $55.03.

iShares Bitcoin Trust Stock Performance

The firm has a 50-day moving average of $42.45 and a 200-day moving average of $38.10.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in iShares Bitcoin Trust during the first quarter valued at approximately $59,000. Comerica Bank bought a new position in shares of iShares Bitcoin Trust during the 1st quarter valued at approximately $225,000. EverSource Wealth Advisors LLC purchased a new position in shares of iShares Bitcoin Trust in the first quarter valued at $310,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of iShares Bitcoin Trust in the second quarter valued at $36,000. Finally, Mather Group LLC. bought a new stake in iShares Bitcoin Trust in the second quarter worth $85,000.

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.