Naviter Wealth LLC Takes $257,000 Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Naviter Wealth LLC purchased a new stake in iShares Bitcoin Trust (NASDAQ:IBIT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,356 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management bought a new position in iShares Bitcoin Trust during the first quarter valued at about $7,017,000. Traynor Capital Management Inc. purchased a new position in shares of iShares Bitcoin Trust during the first quarter worth about $3,666,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $3,983,000. Udine Wealth Management Inc. purchased a new position in shares of iShares Bitcoin Trust in the 1st quarter worth about $2,035,000. Finally, Fiduciary Alliance LLC purchased a new position in shares of iShares Bitcoin Trust during the first quarter worth approximately $5,380,000.

iShares Bitcoin Trust Trading Down 2.2 %

Shares of IBIT stock traded down $0.78 during mid-day trading on Tuesday, reaching $35.22. The stock had a trading volume of 13,645,010 shares, compared to its average volume of 32,123,910. iShares Bitcoin Trust has a 52-week low of $22.02 and a 52-week high of $41.99. The company has a 50-day moving average price of $37.08.

About iShares Bitcoin Trust

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.