Apollon Wealth Management LLC Decreases Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

Apollon Wealth Management LLC reduced its position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 27.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,486 shares of the company’s stock after selling 2,488 shares during the period. Apollon Wealth Management LLC’s holdings in iShares Bitcoin Trust were worth $234,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IBIT. Asset Dedication LLC boosted its position in iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares during the last quarter. Bfsg LLC grew its position in shares of iShares Bitcoin Trust by 34.7% in the second quarter. Bfsg LLC now owns 1,360 shares of the company’s stock valued at $46,000 after purchasing an additional 350 shares in the last quarter. Doliver Advisors LP lifted its position in iShares Bitcoin Trust by 4.9% during the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock worth $273,000 after buying an additional 350 shares in the last quarter. Summit Global Investments lifted its position in iShares Bitcoin Trust by 3.3% during the third quarter. Summit Global Investments now owns 11,214 shares of the company’s stock worth $405,000 after buying an additional 355 shares in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in iShares Bitcoin Trust by 39.1% during the second quarter. Cedar Mountain Advisors LLC now owns 1,362 shares of the company’s stock worth $46,000 after buying an additional 383 shares during the last quarter.

iShares Bitcoin Trust Price Performance

Shares of IBIT opened at $52.13 on Tuesday. iShares Bitcoin Trust has a 52-week low of $22.02 and a 52-week high of $53.26. The stock has a fifty day simple moving average of $38.39 and a two-hundred day simple moving average of $36.78.

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.