iShares Bitcoin Trust (NASDAQ:IBIT – Get Free Report) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 10,350,000 shares, an increase of 176.7% from the November 15th total of 3,740,000 shares. Based on an average trading volume of 43,660,900 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in IBIT. Glass Jacobson Investment Advisors llc purchased a new stake in iShares Bitcoin Trust during the second quarter valued at approximately $26,000. Asset Dedication LLC grew its holdings in iShares Bitcoin Trust by 52.4% during the third 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 purchased a new stake in iShares Bitcoin Trust during the second quarter worth $31,000. Hantz Financial Services Inc. purchased a new stake in shares of iShares Bitcoin Trust in the second quarter valued at approximately $36,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at approximately $40,000.
iShares Bitcoin Trust Trading Up 1.7 %
NASDAQ IBIT traded up $0.94 on Friday, reaching $57.86. 30,880,659 shares of the stock traded hands, compared to its average volume of 34,590,414. The company has a fifty day moving average price of $46.07 and a 200-day moving average price of $39.18. iShares Bitcoin Trust has a 12 month low of $22.02 and a 12 month high of $59.16.
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.
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