iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Up – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $51.70, but opened at $53.83. iShares Bitcoin Trust shares last traded at $53.89, with a volume of 7,528,295 shares trading hands.

iShares Bitcoin Trust Stock Performance

The company has a 50 day moving average of $41.27 and a 200 day moving average of $37.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC bought a new stake in iShares Bitcoin Trust in the 3rd quarter valued at $323,337,000. Aristeia Capital L.L.C. boosted its position in shares of iShares Bitcoin Trust by 47.2% during the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock worth $202,806,000 after buying an additional 1,903,644 shares during the period. Sculptor Capital LP grew its holdings in shares of iShares Bitcoin Trust by 188.1% during the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after buying an additional 2,215,107 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in iShares Bitcoin Trust by 1,657.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock valued at $90,014,000 after buying an additional 2,486,608 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in iShares Bitcoin Trust in the 2nd quarter valued at approximately $56,965,000.

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.