iShares Bitcoin Trust (NASDAQ:IBIT) Trading 1.1% Higher – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) were up 1.1% on Monday . The company traded as high as $56.36 and last traded at $55.33. Approximately 27,383,704 shares traded hands during trading, a decline of 38% from the average daily volume of 43,851,234 shares. The stock had previously closed at $54.74.

iShares Bitcoin Trust Price Performance

The company has a fifty day simple moving average of $56.25 and a two-hundred day simple moving average of $45.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Union Savings Bank purchased a new stake in shares of iShares Bitcoin Trust in the 4th quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new stake in iShares Bitcoin Trust during the fourth quarter worth $25,000. City Holding Co. boosted its position in iShares Bitcoin Trust by 95.2% during the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after acquiring an additional 238 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of iShares Bitcoin Trust by 62.8% in the 4th 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 position in shares of iShares Bitcoin Trust by 151.0% in the 4th 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.

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.