iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.1% – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price shot up 0.1% during trading on Thursday . The stock traded as high as $58.48 and last traded at $57.22. 21,053,906 shares were traded during mid-day trading, a decline of 40% from the average session volume of 34,894,504 shares. The stock had previously closed at $57.18.

iShares Bitcoin Trust Trading Down 2.9 %

The firm’s fifty day moving average is $47.96 and its 200-day moving average is $39.74.

Institutional Investors Weigh In On iShares Bitcoin Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of IBIT. B. Riley Wealth Advisors Inc. boosted its position in iShares Bitcoin Trust by 32.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after buying an additional 9,266 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of iShares Bitcoin Trust in the 3rd quarter valued at $656,000. Franklin Resources Inc. bought a new position in shares of iShares Bitcoin Trust in the 3rd quarter worth $1,107,000. Tidal Investments LLC grew its stake in shares of iShares Bitcoin Trust by 12.4% during the third quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after purchasing an additional 25,232 shares during the period. Finally, World Investment Advisors LLC lifted its stake in iShares Bitcoin Trust by 31.1% in the third quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock valued at $430,000 after buying an additional 2,823 shares during the period.

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.