iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Up – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $47.90, but opened at $52.97. iShares Bitcoin Trust shares last traded at $51.01, with a volume of 35,390,335 shares changing hands.

iShares Bitcoin Trust Trading Up 4.2 %

The business has a fifty day moving average of $55.04 and a 200 day moving average of $47.03.

Institutional Trading of iShares Bitcoin Trust

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its holdings in shares of iShares Bitcoin Trust by 3,513.0% during the 3rd quarter. International Assets Investment Management LLC now owns 32,517 shares of the company’s stock worth $1,175,000 after acquiring an additional 31,617 shares during the last quarter. Pettinga Financial Advisors LLC boosted its position in iShares Bitcoin Trust by 34.8% during the third quarter. Pettinga Financial Advisors LLC now owns 8,630 shares of the company’s stock worth $312,000 after purchasing an additional 2,230 shares during the period. Farther Finance Advisors LLC boosted its position in iShares Bitcoin Trust by 33.2% during the third quarter. Farther Finance Advisors LLC now owns 28,986 shares of the company’s stock worth $1,047,000 after purchasing an additional 7,220 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of iShares Bitcoin Trust by 3.9% in the third quarter. Chicago Partners Investment Group LLC now owns 17,787 shares of the company’s stock valued at $673,000 after purchasing an additional 672 shares during the last quarter. Finally, World Equity Group Inc. raised its position in shares of iShares Bitcoin Trust by 31.3% in the third quarter. World Equity Group Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 2,151 shares during the period.

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.