iShares Bitcoin Trust ETF (NASDAQ:IBIT) Reaches New 12-Month High – Still a Buy?

Shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $70.25 and last traded at $70.24, with a volume of 35142823 shares. The stock had previously closed at $68.77.

iShares Bitcoin Trust ETF Stock Performance

The business’s 50 day simple moving average is $65.10 and its 200-day simple moving average is $59.82.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

Institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC increased its holdings in iShares Bitcoin Trust ETF by 144.7% in the first quarter. American Capital Advisory LLC now owns 553 shares of the company’s stock worth $26,000 after buying an additional 327 shares during the last quarter. Signature Resources Capital Management LLC raised its holdings in shares of iShares Bitcoin Trust ETF by 81.6% during the 2nd quarter. Signature Resources Capital Management LLC now owns 445 shares of the company’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Mather Group LLC. boosted its holdings in iShares Bitcoin Trust ETF by 164.2% in the first quarter. Mather Group LLC. now owns 605 shares of the company’s stock worth $28,000 after purchasing an additional 376 shares in the last quarter. Berbice Capital Management LLC increased its position in iShares Bitcoin Trust ETF by 100.0% during the first quarter. Berbice Capital Management LLC now owns 600 shares of the company’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new position in iShares Bitcoin Trust ETF during the first quarter valued at about $30,000.

iShares Bitcoin Trust ETF 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.