Concentrum Wealth Management Purchases Shares of 105,888 iShares Bitcoin Trust (NASDAQ:IBIT)

Concentrum Wealth Management acquired a new position in iShares Bitcoin Trust (NASDAQ:IBIT) during the 4th quarter, HoldingsChannel reports. The fund acquired 105,888 shares of the company’s stock, valued at approximately $5,617,000. iShares Bitcoin Trust accounts for approximately 2.0% of Concentrum Wealth Management’s holdings, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new stake in iShares Bitcoin Trust in the 4th quarter worth about $25,000. Union Savings Bank acquired a new stake in iShares Bitcoin Trust during the 4th quarter worth $25,000. City Holding Co. grew its holdings in shares of iShares Bitcoin Trust by 95.2% during the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after buying an additional 238 shares in the last quarter. Stephens Consulting LLC raised its position in shares of iShares Bitcoin Trust by 62.8% in the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after buying an additional 189 shares during the last quarter. Finally, Crewe Advisors LLC lifted its stake in shares of iShares Bitcoin Trust by 151.0% in the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after buying an additional 302 shares in the last quarter.

iShares Bitcoin Trust Stock Performance

Shares of iShares Bitcoin Trust stock opened at $47.71 on Monday. iShares Bitcoin Trust has a 1-year low of $28.23 and a 1-year high of $61.75. The stock’s 50 day simple moving average is $51.45 and its 200-day simple moving average is $49.39.

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.