iShares Bitcoin Trust (NASDAQ:IBIT) Trading 2.5% Higher – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price traded up 2.5% on Monday . The stock traded as high as $58.21 and last traded at $57.80. 50,016,990 shares changed hands during mid-day trading, an increase of 46% from the average session volume of 34,374,723 shares. The stock had previously closed at $56.40.

iShares Bitcoin Trust Price Performance

The business has a 50-day moving average of $44.39 and a 200-day moving average of $38.70.

Institutional Trading of iShares Bitcoin Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc acquired a new position in iShares Bitcoin Trust in the second quarter valued at $26,000. Asset Dedication LLC raised its stake in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after acquiring an additional 279 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in iShares Bitcoin Trust during the 2nd quarter worth approximately $31,000. Hantz Financial Services Inc. purchased a new position in shares of iShares Bitcoin Trust in the 2nd quarter valued at approximately $36,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of iShares Bitcoin Trust in the second quarter valued at approximately $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.