iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 6.4% – Still a Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price rose 6.4% on Wednesday . The stock traded as high as $56.41 and last traded at $56.23. Approximately 27,692,662 shares changed hands during trading, a decline of 21% from the average daily volume of 35,241,980 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Trading Up 6.4 %

The business has a 50-day moving average price of $49.06 and a 200-day moving average price of $40.03.

Hedge Funds Weigh In On iShares Bitcoin Trust

A number of hedge funds have recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc bought a new stake in iShares Bitcoin Trust in the second quarter valued at about $26,000. Asset Dedication LLC raised its holdings in shares of iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of iShares Bitcoin Trust during the 2nd quarter worth approximately $31,000. Hantz Financial Services Inc. acquired a new stake in iShares Bitcoin Trust in the 2nd quarter valued at $36,000. Finally, West Financial Advisors LLC bought a new stake in iShares Bitcoin Trust in the third quarter valued at $40,000.

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.