iShares Bitcoin Trust (NASDAQ:IBIT) Trading 5.3% Higher – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) were up 5.3% during trading on Tuesday . The stock traded as high as $55.86 and last traded at $55.68. Approximately 11,466,628 shares traded hands during trading, a decline of 67% from the average daily volume of 35,168,070 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Stock Performance

The firm’s 50-day moving average price is $49.06 and its 200 day moving average price is $40.03.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc acquired a new stake in shares of iShares Bitcoin Trust during the 2nd quarter valued at approximately $26,000. Asset Dedication LLC boosted its holdings in iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares during the period. International Assets Investment Management LLC bought a new stake in iShares Bitcoin Trust during the second quarter valued at $31,000. Hantz Financial Services Inc. acquired a new stake in shares of iShares Bitcoin Trust during the second quarter worth $36,000. Finally, West Financial Advisors LLC bought a new position in shares of iShares Bitcoin Trust in the 3rd quarter worth about $40,000.

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.