Pinpoint Asset Management Singapore Pte. Ltd. Has $116.19 Million Holdings in iShares Bitcoin Trust ETF $IBIT

Pinpoint Asset Management Singapore Pte. Ltd. cut its holdings in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 3.5% in the third quarter, Holdings Channel reports. The fund owned 1,787,571 shares of the company’s stock after selling 65,135 shares during the quarter. iShares Bitcoin Trust ETF accounts for approximately 21.4% of Pinpoint Asset Management Singapore Pte. Ltd.’s portfolio, making the stock its largest position. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in iShares Bitcoin Trust ETF were worth $116,192,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of iShares Bitcoin Trust ETF in the 4th quarter worth approximately $711,000. Bison Wealth LLC purchased a new position in iShares Bitcoin Trust ETF during the fourth quarter valued at approximately $3,140,000. Royal Bank of Canada increased its holdings in iShares Bitcoin Trust ETF by 3.6% during the first quarter. Royal Bank of Canada now owns 61,926 shares of the company’s stock valued at $2,898,000 after buying an additional 2,148 shares during the period. Jones Financial Companies Lllp raised its stake in iShares Bitcoin Trust ETF by 427.2% in the first quarter. Jones Financial Companies Lllp now owns 2,172 shares of the company’s stock worth $102,000 after buying an additional 1,760 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in iShares Bitcoin Trust ETF in the second quarter worth approximately $357,000.

iShares Bitcoin Trust ETF Stock Down 4.4%

Shares of NASDAQ IBIT opened at $38.63 on Monday. The stock’s fifty day simple moving average is $45.16 and its two-hundred day simple moving average is $54.24. iShares Bitcoin Trust ETF has a 12-month low of $35.30 and a 12-month high of $71.82.

About iShares Bitcoin Trust ETF

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.