iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 4.8% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded up 4.8% during trading on Monday . The company traded as high as $60.74 and last traded at $60.69. 22,891,135 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 34,562,520 shares. The stock had previously closed at $57.91.

iShares Bitcoin Trust Trading Up 0.8 %

The business’s fifty day simple moving average is $47.51 and its 200 day simple moving average is $39.62.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vienna Asset Management LLC lifted its holdings in iShares Bitcoin Trust by 131.6% in the third quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock valued at $963,000 after buying an additional 15,137 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of iShares Bitcoin Trust during the 3rd quarter valued at $656,000. Capstone Investment Advisors LLC acquired a new position in shares of iShares Bitcoin Trust in the 3rd quarter valued at $11,507,000. Marathon Trading Investment Management LLC boosted its position in shares of iShares Bitcoin Trust by 238.4% in the 3rd quarter. Marathon Trading Investment Management LLC now owns 77,600 shares of the company’s stock worth $2,804,000 after purchasing an additional 54,671 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of iShares Bitcoin Trust by 32.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock worth $1,357,000 after purchasing an additional 9,266 shares during the last quarter.

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.