iShares Bitcoin Trust (NASDAQ:IBIT) Sees Large Increase in Short Interest

iShares Bitcoin Trust (NASDAQ:IBIT) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,170,000 shares, an increase of 53.1% from the February 28th total of 5,990,000 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 45,809,700 shares, the days-to-cover ratio is currently 0.2 days.

iShares Bitcoin Trust Stock Performance

Shares of iShares Bitcoin Trust stock traded up $1.54 during midday trading on Tuesday, hitting $48.35. The company’s stock had a trading volume of 21,441,387 shares, compared to its average volume of 44,470,199. iShares Bitcoin Trust has a 1-year low of $28.23 and a 1-year high of $61.75. The stock has a 50-day simple moving average of $52.38 and a 200-day simple moving average of $48.99.

Institutional Investors Weigh In On iShares Bitcoin Trust

Hedge funds have recently bought and sold shares of the business. Vienna Asset Management LLC lifted its position in shares of iShares Bitcoin Trust by 131.6% in the third quarter. Vienna Asset Management LLC now owns 26,642 shares of the company’s stock worth $963,000 after purchasing an additional 15,137 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in iShares Bitcoin Trust in the 3rd quarter valued at approximately $656,000. Andina Capital Management LLC lifted its position in iShares Bitcoin Trust by 131.0% in the 4th quarter. Andina Capital Management LLC now owns 17,152 shares of the company’s stock worth $910,000 after buying an additional 9,728 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of iShares Bitcoin Trust by 32.2% during 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 period. Finally, Mutual Advisors LLC grew its holdings in shares of iShares Bitcoin Trust by 65.8% during the 4th quarter. Mutual Advisors LLC now owns 157,060 shares of the company’s stock valued at $8,967,000 after acquiring an additional 62,338 shares in the last quarter.

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.