Spectrum Wealth Counsel LLC Invests $66,000 in iShares Bitcoin Trust (NASDAQ:IBIT)

Spectrum Wealth Counsel LLC bought a new stake in iShares Bitcoin Trust (NASDAQ:IBIT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,926 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds have also recently modified their holdings of IBIT. Brookstone Capital Management acquired a new position in iShares Bitcoin Trust in the first quarter valued at $7,017,000. Kingsview Wealth Management LLC acquired a new stake in shares of iShares Bitcoin Trust in the 1st quarter valued at about $1,403,000. Financial Sense Advisors Inc. purchased a new position in iShares Bitcoin Trust during the 1st quarter worth approximately $1,278,000. Axxcess Wealth Management LLC purchased a new position in iShares Bitcoin Trust during the 1st quarter worth approximately $965,000. Finally, Traynor Capital Management Inc. acquired a new position in iShares Bitcoin Trust during the first quarter worth approximately $3,666,000.

iShares Bitcoin Trust Price Performance

IBIT stock opened at $34.04 on Friday. The business has a 50 day simple moving average of $34.51 and a 200-day simple moving average of $36.45. iShares Bitcoin Trust has a twelve month low of $22.02 and a twelve month high of $41.99.

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.