iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 0.7% – Still a Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.7% on Thursday . The stock traded as high as $60.39 and last traded at $59.81. 37,688,374 shares traded hands during trading, a decline of 16% from the average session volume of 44,994,137 shares. The stock had previously closed at $59.38.

iShares Bitcoin Trust Stock Performance

The business’s 50-day simple moving average is $55.44 and its two-hundred day simple moving average is $43.00.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors have recently modified their holdings of the company. Vienna Asset Management LLC raised its stake in shares of 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 acquiring an additional 15,137 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of iShares Bitcoin Trust in the 3rd quarter valued at about $656,000. B. Riley Wealth Advisors Inc. lifted its stake in iShares Bitcoin Trust by 32.2% during the third 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. Capstone Investment Advisors LLC acquired a new position in iShares Bitcoin Trust in the third quarter valued at approximately $11,507,000. Finally, Marathon Trading Investment Management LLC increased its stake in iShares Bitcoin Trust by 238.4% in the third quarter. Marathon Trading Investment Management LLC now owns 77,600 shares of the company’s stock valued at $2,804,000 after purchasing an additional 54,671 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.