Archer Investment Corp Increases Stock Position in iShares Bitcoin Trust ETF (NASDAQ:IBIT)

Archer Investment Corp lifted its holdings in shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,030 shares of the company’s stock after acquiring an additional 317 shares during the period. Archer Investment Corp’s holdings in iShares Bitcoin Trust ETF were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IBIT. Leavell Investment Management Inc. grew its position in iShares Bitcoin Trust ETF by 3.3% in the 1st quarter. Leavell Investment Management Inc. now owns 6,200 shares of the company’s stock valued at $290,000 after buying an additional 199 shares during the last quarter. Barrett & Company Inc. grew its position in iShares Bitcoin Trust ETF by 7.3% in the 1st quarter. Barrett & Company Inc. now owns 2,955 shares of the company’s stock valued at $138,000 after buying an additional 200 shares during the last quarter. City Holding Co. grew its position in iShares Bitcoin Trust ETF by 47.1% in the 1st quarter. City Holding Co. now owns 718 shares of the company’s stock valued at $34,000 after buying an additional 230 shares during the last quarter. Mosley Wealth Management grew its position in iShares Bitcoin Trust ETF by 2.5% in the 4th quarter. Mosley Wealth Management now owns 9,341 shares of the company’s stock valued at $496,000 after buying an additional 231 shares during the last quarter. Finally, Physician Wealth Advisors Inc. grew its position in iShares Bitcoin Trust ETF by 10.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 2,601 shares of the company’s stock valued at $122,000 after buying an additional 249 shares during the last quarter.

iShares Bitcoin Trust ETF Stock Performance

NASDAQ:IBIT traded up $0.09 during midday trading on Friday, reaching $67.74. The stock had a trading volume of 12,127,051 shares, compared to its average volume of 45,722,191. The firm has a fifty day simple moving average of $61.28 and a two-hundred day simple moving average of $55.31. iShares Bitcoin Trust ETF has a 12-month low of $28.23 and a 12-month high of $69.46.

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.