iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.8% – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price shot up 0.8% on Thursday . The stock traded as high as $49.60 and last traded at $49.55. 13,250,278 shares traded hands during trading, a decline of 71% from the average session volume of 44,954,207 shares. The stock had previously closed at $49.18.

iShares Bitcoin Trust Price Performance

The business has a 50 day moving average of $52.64 and a 200 day moving average of $48.68.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Union Savings Bank bought a new position in iShares Bitcoin Trust during the fourth quarter worth about $25,000. Vision Financial Markets LLC 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 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 in the last quarter. Stephens Consulting LLC grew its position in iShares Bitcoin Trust by 62.8% in the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after acquiring an additional 189 shares during the period. Finally, Crewe Advisors LLC raised its stake in iShares Bitcoin Trust by 151.0% during the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after acquiring an additional 302 shares in the last quarter.

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.