iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 1.3% – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were up 1.3% during trading on Thursday . The company traded as high as $60.67 and last traded at $60.14. Approximately 12,683,132 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 47,345,980 shares. The stock had previously closed at $59.34.

iShares Bitcoin Trust Trading Up 0.6 %

The firm’s 50-day moving average is $56.09 and its two-hundred day moving average is $43.91.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several institutional investors have recently bought and sold shares of IBIT. Union Savings Bank acquired a new position in iShares Bitcoin Trust in the 4th quarter valued at $25,000. City Holding Co. grew its holdings in iShares Bitcoin Trust by 95.2% in the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after buying an additional 238 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of iShares Bitcoin Trust by 151.0% in the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Finally, Beacon Capital Management LLC bought a new position in iShares Bitcoin Trust during the fourth quarter worth $28,000.

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.