iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.4% Higher – Should You Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $49.19 and last traded at $48.49. 11,679,852 shares were traded 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 Performance

The firm’s 50-day moving average is $49.28 and its two-hundred day moving average is $49.80.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of large investors have recently modified their holdings of the company. Stephens Consulting LLC boosted its holdings in shares of iShares Bitcoin Trust by 62.8% in the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. AlphaMark Advisors LLC lifted its position in iShares Bitcoin Trust by 8.9% during the fourth quarter. AlphaMark Advisors LLC now owns 2,455 shares of the company’s stock worth $130,000 after buying an additional 200 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of iShares Bitcoin Trust by 52.9% during the 4th quarter. Pathway Financial Advisers LLC now owns 665 shares of the company’s stock worth $35,000 after buying an additional 230 shares during the last quarter. SouthState Corp raised its holdings in iShares Bitcoin Trust by 5.5% in the fourth quarter. SouthState Corp now owns 4,411 shares of the company’s stock valued at $234,000 after buying an additional 230 shares during the period. Finally, City Holding Co. boosted its position in shares of iShares Bitcoin Trust by 47.1% in the first quarter. City Holding Co. now owns 718 shares of the company’s stock worth $34,000 after buying an additional 230 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.