Summit Global Investments Buys 2,703 Shares of iShares Bitcoin Trust (NASDAQ:IBIT)

Summit Global Investments lifted its stake in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 33.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,859 shares of the company’s stock after purchasing an additional 2,703 shares during the quarter. Summit Global Investments’ holdings in iShares Bitcoin Trust were worth $371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FinTrust Capital Advisors LLC bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $26,000. Creekmur Asset Management LLC bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $30,000. Sound Income Strategies LLC bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $30,000. Hazlett Burt & Watson Inc. bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $40,000. Finally, Bfsg LLC bought a new position in iShares Bitcoin Trust in the 1st quarter valued at about $41,000.

iShares Bitcoin Trust Price Performance

NASDAQ IBIT traded up $0.73 during trading hours on Wednesday, hitting $34.65. The company’s stock had a trading volume of 15,509,197 shares, compared to its average volume of 31,233,891. iShares Bitcoin Trust has a 52 week low of $22.02 and a 52 week high of $41.99. The company’s 50-day simple moving average is $35.29 and its two-hundred day simple moving average is $35.85.

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.