Sterling Investment Advisors Ltd. Grows Stock Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Sterling Investment Advisors Ltd. lifted its stake in iShares Bitcoin Trust (NASDAQ:IBIT) by 49.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,385 shares of the company’s stock after purchasing an additional 4,450 shares during the period. Sterling Investment Advisors Ltd.’s holdings in iShares Bitcoin Trust were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBIT. Wealth Enhancement Advisory Services LLC purchased a new position in iShares Bitcoin Trust in the first quarter valued at $3,416,000. SteelPeak Wealth LLC acquired a new stake in iShares Bitcoin Trust in the first quarter valued at $272,000. Compass Ion Advisors LLC acquired a new stake in iShares Bitcoin Trust in the first quarter valued at $345,000. Pettinga Financial Advisors LLC acquired a new stake in iShares Bitcoin Trust in the first quarter valued at $204,000. Finally, Udine Wealth Management Inc. acquired a new stake in shares of iShares Bitcoin Trust during the first quarter worth about $2,035,000.

iShares Bitcoin Trust Stock Down 2.2 %

Shares of IBIT traded down $0.86 during midday trading on Friday, reaching $38.01. 51,745,568 shares of the stock were exchanged, compared to its average volume of 30,353,623. The business’s 50-day moving average price is $35.27 and its 200 day moving average price is $35.98. iShares Bitcoin Trust has a twelve month low of $22.02 and a twelve month high of $41.99.

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.