iShares Bitcoin Trust (NASDAQ:IBIT) Hits New 12-Month High – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.42 and last traded at $53.16, with a volume of 45179207 shares trading hands. The stock had previously closed at $52.13.

iShares Bitcoin Trust Stock Up 4.1 %

The firm has a 50 day simple moving average of $39.59 and a 200-day simple moving average of $37.15.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors and hedge funds have recently modified their holdings of IBIT. Glass Jacobson Investment Advisors llc acquired a new position in iShares Bitcoin Trust in the second quarter valued at approximately $26,000. Asset Dedication LLC grew its holdings in iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after buying an additional 279 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in iShares Bitcoin Trust in the 1st quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in iShares Bitcoin Trust in the 2nd quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in iShares Bitcoin Trust in the 2nd quarter valued at $36,000.

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.