iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 1.1% – Here’s Why

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price rose 1.1% on Monday . The company traded as high as $56.36 and last traded at $55.33. Approximately 27,383,704 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 43,851,234 shares. The stock had previously closed at $54.74.

iShares Bitcoin Trust Stock Performance

The company has a 50 day moving average of $56.25 and a two-hundred day moving average of $45.51.

Hedge Funds Weigh In On iShares Bitcoin Trust

Hedge funds have recently modified their holdings of the stock. Brevan Howard Capital Management LP acquired a new position in iShares Bitcoin Trust during the 4th quarter valued at approximately $1,385,364,000. Symmetry Investments LP increased its position in shares of iShares Bitcoin Trust by 3,605.8% in the 4th quarter. Symmetry Investments LP now owns 12,678,808 shares of the company’s stock valued at $672,611,000 after acquiring an additional 12,336,673 shares during the period. IMC Chicago LLC purchased a new position in iShares Bitcoin Trust in the 3rd quarter worth $323,337,000. D. E. Shaw & Co. Inc. lifted its position in iShares Bitcoin Trust by 344.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 9,667,431 shares of the company’s stock worth $512,857,000 after acquiring an additional 7,494,123 shares during the period. Finally, Jericho Capital Asset Management L.P. purchased a new stake in iShares Bitcoin Trust during the 4th quarter valued at about $378,140,000.

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.