iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.1% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were up 0.1% on Friday . The stock traded as high as $55.63 and last traded at $55.42. Approximately 10,767,442 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 24,892,371 shares. The stock had previously closed at $55.37.

iShares Bitcoin Trust Price Performance

The stock has a 50-day simple moving average of $51.97 and a 200-day simple moving average of $41.02.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Asset Dedication LLC increased its holdings in shares of 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 buying an additional 279 shares in the last quarter. 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 valued at $38,000 after purchasing an additional 304 shares during the last quarter. Doliver Advisors LP boosted its stake in shares of iShares Bitcoin Trust by 4.9% during the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after purchasing an additional 350 shares in the last quarter. Summit Global Investments grew its holdings in shares of 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 purchasing an additional 355 shares during the last quarter. Finally, Mirador Capital Partners LP grew its holdings in shares of iShares Bitcoin Trust by 4.0% during the third quarter. Mirador Capital Partners LP now owns 10,057 shares of the company’s stock worth $363,000 after purchasing an additional 384 shares during 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.