iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 0.4% – Still a Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $49.19 and last traded at $48.49. 11,679,852 shares changed hands during trading, a decline of 75% from the average session volume of 45,850,816 shares. The stock had previously closed at $48.28.

iShares Bitcoin Trust Stock Down 0.5 %

The business has a fifty day moving average price of $49.55 and a 200-day moving average price of $49.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IBIT. Redhawk Wealth Advisors Inc. boosted its stake in shares of iShares Bitcoin Trust by 40.4% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 15,409 shares of the company’s stock valued at $721,000 after purchasing an additional 4,437 shares in the last quarter. Integral Investment Advisors Inc. bought a new stake in iShares Bitcoin Trust in the first quarter worth $2,584,000. Moseley Investment Management Inc. boosted its position in iShares Bitcoin Trust by 15.5% during the first quarter. Moseley Investment Management Inc. now owns 7,060 shares of the company’s stock valued at $330,000 after buying an additional 948 shares during the period. Gibson Capital LLC grew its stake in shares of iShares Bitcoin Trust by 8.3% during the first quarter. Gibson Capital LLC now owns 5,465 shares of the company’s stock valued at $256,000 after buying an additional 418 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of iShares Bitcoin Trust by 374.6% in the first quarter. SJS Investment Consulting Inc. now owns 7,304 shares of the company’s stock worth $342,000 after buying an additional 5,765 shares during the period.

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.