Magnolia Capital Advisors LLC Takes Position in iShares Bitcoin Trust ETF $IBIT

Magnolia Capital Advisors LLC purchased a new stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,664 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Resources Capital Management LLC grew its stake in shares of iShares Bitcoin Trust ETF by 81.6% during the second quarter. Signature Resources Capital Management LLC now owns 445 shares of the company’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Berbice Capital Management LLC grew its stake in shares of iShares Bitcoin Trust ETF by 100.0% during the first quarter. Berbice Capital Management LLC now owns 600 shares of the company’s stock worth $28,000 after buying an additional 300 shares during the last quarter. TD Capital Management LLC grew its stake in shares of iShares Bitcoin Trust ETF by 48.9% during the first quarter. TD Capital Management LLC now owns 636 shares of the company’s stock worth $30,000 after buying an additional 209 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of iShares Bitcoin Trust ETF during the second quarter worth $30,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of iShares Bitcoin Trust ETF by 1,277.1% during the second quarter. JFS Wealth Advisors LLC now owns 482 shares of the company’s stock worth $30,000 after buying an additional 447 shares during the last quarter.

iShares Bitcoin Trust ETF Stock Down 5.5%

NASDAQ IBIT opened at $57.18 on Wednesday. The firm’s fifty day moving average price is $64.24 and its two-hundred day moving average price is $62.54. iShares Bitcoin Trust ETF has a fifty-two week low of $39.11 and a fifty-two week high of $71.82.

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.