iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 3.5% – What’s Next?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) rose 3.5% during mid-day trading on Thursday . The company traded as high as $55.45 and last traded at $54.92. Approximately 16,443,831 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 35,205,520 shares. The stock had previously closed at $53.05.

iShares Bitcoin Trust Trading Up 3.3 %

The firm’s fifty day moving average price is $51.28 and its 200-day moving average price is $40.80.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several large investors have recently made changes to their positions in IBIT. Glass Jacobson Investment Advisors llc bought a new position in iShares Bitcoin Trust in the 2nd quarter worth approximately $26,000. Asset Dedication LLC boosted its position in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the period. International Assets Investment Management LLC bought a new position in shares of iShares Bitcoin Trust in the second quarter worth $31,000. West Financial Advisors LLC acquired a new position in shares of iShares Bitcoin Trust during the third quarter valued at $40,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of iShares Bitcoin Trust during the second quarter valued at about $43,000.

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.