Steel Grove Capital Advisors LLC Makes New Investment in iShares Bitcoin Trust ETF $IBIT

Steel Grove Capital Advisors LLC bought a new position in iShares Bitcoin Trust ETF (NASDAQ:IBIT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 453,590 shares of the company’s stock, valued at approximately $22,521,000. iShares Bitcoin Trust ETF comprises approximately 2.3% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds have also added to or reduced their stakes in IBIT. Caprock Group LLC bought a new position in shares of iShares Bitcoin Trust ETF during the third quarter valued at $1,536,000. Brighton Jones LLC bought a new position in shares of iShares Bitcoin Trust ETF during the fourth quarter valued at $711,000. Cassaday & Co Wealth Management LLC lifted its holdings in shares of iShares Bitcoin Trust ETF by 247.5% during the third quarter. Cassaday & Co Wealth Management LLC now owns 31,909 shares of the company’s stock valued at $2,074,000 after purchasing an additional 22,727 shares in the last quarter. Concentrum Wealth Management lifted its holdings in shares of iShares Bitcoin Trust ETF by 16.8% during the third quarter. Concentrum Wealth Management now owns 133,870 shares of the company’s stock valued at $8,702,000 after purchasing an additional 19,269 shares in the last quarter. Finally, Procyon Advisors LLC lifted its holdings in shares of iShares Bitcoin Trust ETF by 920.1% during the fourth quarter. Procyon Advisors LLC now owns 227,604 shares of the company’s stock valued at $11,301,000 after purchasing an additional 205,292 shares in the last quarter.

iShares Bitcoin Trust ETF Stock Up 0.1%

Shares of NASDAQ:IBIT opened at $42.99 on Wednesday. iShares Bitcoin Trust ETF has a 1 year low of $35.30 and a 1 year high of $71.82. The stock’s fifty day moving average price is $42.24 and its 200-day moving average price is $45.68.

About iShares Bitcoin Trust ETF

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.