Paragon Advisors LLC Trims Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

Paragon Advisors LLC lessened its stake in iShares Bitcoin Trust (NASDAQ:IBIT) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405,212 shares of the company’s stock after selling 52,899 shares during the quarter. iShares Bitcoin Trust makes up about 7.4% of Paragon Advisors LLC’s investment portfolio, making the stock its largest position. Paragon Advisors LLC owned about 0.06% of iShares Bitcoin Trust worth $21,497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vienna Asset Management LLC raised its holdings in shares of iShares Bitcoin Trust by 131.6% during the 3rd quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock worth $963,000 after acquiring an additional 15,137 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new stake in iShares Bitcoin Trust in the third quarter worth $656,000. B. Riley Wealth Advisors Inc. raised its stake in iShares Bitcoin Trust by 32.2% during 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. Capstone Investment Advisors LLC bought a new position in iShares Bitcoin Trust during the third quarter valued at $11,507,000. Finally, Marathon Trading Investment Management LLC grew its stake in shares of iShares Bitcoin Trust by 238.4% in the 3rd quarter. Marathon Trading Investment Management LLC now owns 77,600 shares of the company’s stock worth $2,804,000 after buying an additional 54,671 shares in the last quarter.

iShares Bitcoin Trust Stock Performance

Shares of NASDAQ IBIT opened at $53.84 on Monday. iShares Bitcoin Trust has a 12-month low of $22.02 and a 12-month high of $61.75. The firm’s 50-day moving average price is $53.42 and its 200-day moving average price is $41.76.

iShares Bitcoin Trust 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.