PNC Financial Services Group Inc. Reduces Position in iShares Bitcoin Trust ETF $IBIT

PNC Financial Services Group Inc. reduced its stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 56.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,888 shares of the company’s stock after selling 293,347 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iShares Bitcoin Trust ETF were worth $8,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Summit Global Investments raised its stake in iShares Bitcoin Trust ETF by 6.2% in the 1st quarter. Summit Global Investments now owns 15,218 shares of the company’s stock valued at $585,000 after purchasing an additional 893 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of iShares Bitcoin Trust ETF by 499.3% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 45,227 shares of the company’s stock worth $1,738,000 after purchasing an additional 37,680 shares during the last quarter. JMG Financial Group Ltd. grew its holdings in shares of iShares Bitcoin Trust ETF by 9.1% during the first quarter. JMG Financial Group Ltd. now owns 5,825 shares of the company’s stock worth $224,000 after buying an additional 485 shares in the last quarter. Alpha Zero LLC grew its holdings in shares of iShares Bitcoin Trust ETF by 43.8% during the first quarter. Alpha Zero LLC now owns 84,035 shares of the company’s stock worth $3,229,000 after buying an additional 25,576 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of iShares Bitcoin Trust ETF by 75.2% in the first quarter. Johnson Financial Group Inc. now owns 3,346 shares of the company’s stock valued at $129,000 after buying an additional 1,436 shares during the last quarter.

iShares Bitcoin Trust ETF Price Performance

NASDAQ:IBIT opened at $36.35 on Monday. The firm has a 50 day simple moving average of $37.37 and a 200-day simple moving average of $41.06. iShares Bitcoin Trust ETF has a 1-year low of $32.84 and a 1-year high of $71.82.

iShares Bitcoin Trust ETF Company Profile

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.