iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.8% – Here’s Why

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were up 0.8% during mid-day trading on Wednesday . The stock traded as high as $48.26 and last traded at $48.13. Approximately 7,505,077 shares traded hands during trading, a decline of 84% from the average daily volume of 45,504,496 shares. The stock had previously closed at $47.74.

iShares Bitcoin Trust Stock Up 0.1 %

The stock has a 50 day moving average price of $49.41 and a 200 day moving average price of $49.81.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors and hedge funds have recently bought and sold shares of IBIT. BigSur Wealth Management LLC grew its stake in shares of iShares Bitcoin Trust by 88.6% in the 1st quarter. BigSur Wealth Management LLC now owns 90,595 shares of the company’s stock worth $4,241,000 after purchasing an additional 42,560 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of iShares Bitcoin Trust by 332.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 29,529 shares of the company’s stock valued at $1,382,000 after buying an additional 22,704 shares in the last quarter. Howard Capital Management Group LLC lifted its position in shares of iShares Bitcoin Trust by 72.5% during the 1st quarter. Howard Capital Management Group LLC now owns 25,525 shares of the company’s stock valued at $1,195,000 after acquiring an additional 10,725 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of iShares Bitcoin Trust by 69.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,962 shares of the company’s stock worth $92,000 after acquiring an additional 807 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC grew its holdings in shares of iShares Bitcoin Trust by 27.4% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 8,754 shares of the company’s stock worth $410,000 after acquiring an additional 1,884 shares during the last quarter.

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.