iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 4.4% – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) shares rose 4.4% during mid-day trading on Monday . The stock traded as high as $60.41 and last traded at $59.62. Approximately 70,436,318 shares traded hands during trading, an increase of 57% from the average daily volume of 44,819,953 shares. The stock had previously closed at $57.09.

iShares Bitcoin Trust Stock Up 4.4 %

The firm’s 50-day moving average price is $54.88 and its 200-day moving average price is $42.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. purchased a new position in shares of iShares Bitcoin Trust in the fourth quarter valued at $280,000. Key Client Fiduciary Advisors LLC increased its position in shares of iShares Bitcoin Trust by 132.1% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 14,974 shares of the company’s stock worth $794,000 after acquiring an additional 8,522 shares during the last quarter. Apeiron RIA LLC increased its position in shares of iShares Bitcoin Trust by 21.0% during the fourth quarter. Apeiron RIA LLC now owns 26,479 shares of the company’s stock worth $1,405,000 after acquiring an additional 4,587 shares during the last quarter. Secure Asset Management LLC lifted its stake in shares of iShares Bitcoin Trust by 17.4% in the fourth quarter. Secure Asset Management LLC now owns 49,530 shares of the company’s stock worth $2,628,000 after acquiring an additional 7,341 shares in the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in iShares Bitcoin Trust by 28.4% in the fourth quarter. Red Door Wealth Management LLC now owns 122,448 shares of the company’s stock valued at $6,496,000 after purchasing an additional 27,097 shares during the last quarter.

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.