iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 0.6% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $55.09 and last traded at $54.77. 11,067,602 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 33,845,469 shares. The stock had previously closed at $54.46.

iShares Bitcoin Trust Price Performance

The firm’s fifty day moving average price is $43.18 and its 200-day moving average price is $38.33.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc acquired a new position in iShares Bitcoin Trust in the 2nd quarter valued at about $26,000. Asset Dedication LLC grew its position in iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after buying an additional 279 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in iShares Bitcoin Trust in the second quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in iShares Bitcoin Trust in the second quarter valued at $36,000. Finally, Hantz Financial Services Inc. acquired a new stake in iShares Bitcoin Trust in the second quarter valued at $36,000.

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.