iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.6% Higher – What’s Next?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.6% during trading on Friday . The stock traded as high as $48.65 and last traded at $48.26. 23,726,023 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 45,494,238 shares. The stock had previously closed at $47.96.

iShares Bitcoin Trust Stock Performance

The stock’s 50-day moving average is $49.13 and its two-hundred day moving average is $49.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Andina Capital Management LLC grew its holdings in iShares Bitcoin Trust by 131.0% during the 4th quarter. Andina Capital Management LLC now owns 17,152 shares of the company’s stock valued at $910,000 after buying an additional 9,728 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of iShares Bitcoin Trust by 32.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after purchasing an additional 9,266 shares in the last quarter. Mutual Advisors LLC increased its position in iShares Bitcoin Trust by 65.8% in the fourth quarter. Mutual Advisors LLC now owns 157,060 shares of the company’s stock worth $8,967,000 after purchasing an additional 62,338 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in iShares Bitcoin Trust during the third quarter valued at $656,000. Finally, Stordahl Capital Management Inc. bought a new position in iShares Bitcoin Trust during the fourth quarter valued at $253,000.

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.