iShares Bitcoin Trust (NASDAQ:IBIT) Hits New 52-Week High – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $42.47 and last traded at $42.41, with a volume of 11515901 shares traded. The stock had previously closed at $39.51.

iShares Bitcoin Trust Price Performance

The business has a 50-day moving average price of $35.95 and a 200 day moving average price of $36.10.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently modified their holdings of IBIT. Creekmur Asset Management LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $30,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of iShares Bitcoin Trust during the second quarter valued at $26,000. Asset Dedication LLC boosted its holdings in iShares Bitcoin Trust by 52.4% in the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of iShares Bitcoin Trust in the second quarter worth about $31,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of iShares Bitcoin Trust during the 1st quarter worth about $42,000.

iShares Bitcoin Trust Company 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.