iShares Bitcoin Trust (NASDAQ:IBIT) Shares Gap Up – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $52.87, but opened at $55.06. iShares Bitcoin Trust shares last traded at $55.44, with a volume of 8,675,195 shares traded.

iShares Bitcoin Trust Stock Performance

The business’s fifty day moving average price is $49.42 and its 200-day moving average price is $40.15.

Institutional Investors Weigh In On iShares Bitcoin Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBIT. Asset Dedication LLC grew its stake in shares of iShares Bitcoin Trust by 52.4% during the 3rd 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 period. Glass Jacobson Investment Advisors llc raised its position in iShares Bitcoin Trust by 40.2% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock worth $38,000 after acquiring an additional 304 shares during the period. Bfsg LLC boosted its stake in shares of iShares Bitcoin Trust by 34.7% during the 2nd quarter. Bfsg LLC now owns 1,360 shares of the company’s stock worth $46,000 after acquiring an additional 350 shares during the last quarter. Doliver Advisors LP boosted its stake in shares of iShares Bitcoin Trust by 4.9% during the 3rd quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock worth $273,000 after acquiring an additional 350 shares during the last quarter. Finally, Summit Global Investments grew its position in shares of iShares Bitcoin Trust by 3.3% during the 3rd quarter. Summit Global Investments now owns 11,214 shares of the company’s stock valued at $405,000 after acquiring an additional 355 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.