Pekin Hardy Strauss Inc. Boosts Stock Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

Pekin Hardy Strauss Inc. grew its position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 42.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 161,966 shares of the company’s stock after purchasing an additional 48,385 shares during the period. iShares Bitcoin Trust comprises 1.1% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 15th largest position. Pekin Hardy Strauss Inc.’s holdings in iShares Bitcoin Trust were worth $8,592,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Union Savings Bank purchased a new stake in shares of iShares Bitcoin Trust during the fourth quarter valued at approximately $25,000. City Holding Co. lifted its position in iShares Bitcoin Trust by 95.2% during the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after purchasing an additional 238 shares during the period. Stephens Consulting LLC lifted its position in iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Crewe Advisors LLC lifted its position in iShares Bitcoin Trust by 151.0% during the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock valued at $27,000 after purchasing an additional 302 shares during the period. Finally, Beacon Capital Management LLC bought a new position in iShares Bitcoin Trust during the fourth quarter valued at approximately $28,000.

iShares Bitcoin Trust Stock Performance

Shares of iShares Bitcoin Trust stock opened at $53.94 on Friday. The company’s 50 day moving average is $56.07 and its 200 day moving average is $46.07. iShares Bitcoin Trust has a twelve month low of $28.23 and a twelve month high of $61.75.

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.