Pallas Capital Advisors LLC Increases Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

Pallas Capital Advisors LLC raised its holdings in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 18.9% in the fourth quarter, HoldingsChannel reports. The firm owned 6,177 shares of the company’s stock after buying an additional 981 shares during the quarter. Pallas Capital Advisors LLC’s holdings in iShares Bitcoin Trust were worth $328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IBIT. Glass Jacobson Investment Advisors llc purchased a new stake in shares of iShares Bitcoin Trust in the 2nd quarter worth about $26,000. Asset Dedication LLC raised its stake in iShares Bitcoin Trust by 52.4% in 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. West Financial Advisors LLC purchased a new stake in iShares Bitcoin Trust in the third quarter worth about $40,000. Brown Brothers Harriman & Co. purchased a new stake in iShares Bitcoin Trust in the second quarter worth about $43,000. Finally, Hollencrest Capital Management boosted its position in iShares Bitcoin Trust by 256.7% during the 2nd quarter. Hollencrest Capital Management now owns 1,327 shares of the company’s stock valued at $45,000 after acquiring an additional 955 shares in the last quarter.

iShares Bitcoin Trust Price Performance

Shares of NASDAQ:IBIT opened at $56.64 on Thursday. The stock has a 50 day moving average price of $54.29 and a 200-day moving average price of $42.14. iShares Bitcoin Trust has a 52-week low of $22.02 and a 52-week 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.