iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.8% Higher – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) rose 0.8% during mid-day trading on Wednesday . The stock traded as high as $58.33 and last traded at $58.03. Approximately 7,035,731 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 47,609,762 shares. The stock had previously closed at $57.58.

iShares Bitcoin Trust Price Performance

The firm’s 50 day moving average price is $55.98 and its 200-day moving average price is $43.80.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Stephens Consulting LLC raised its position in shares of iShares Bitcoin Trust by 62.8% in the 4th quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after acquiring an additional 189 shares during the period. AlphaMark Advisors LLC raised its position in shares of iShares Bitcoin Trust by 8.9% in the 4th quarter. AlphaMark Advisors LLC now owns 2,455 shares of the company’s stock valued at $130,000 after acquiring an additional 200 shares during the period. City Holding Co. raised its position in shares of iShares Bitcoin Trust by 95.2% in the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. raised its holdings in iShares Bitcoin Trust by 5.8% during the 4th quarter. Blue Trust Inc. now owns 4,939 shares of the company’s stock worth $262,000 after buying an additional 270 shares during the period. Finally, Asset Dedication LLC raised its holdings in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 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.