Fairbanks Capital Management Inc. Reduces Position in iShares Bitcoin Trust ETF $IBIT

Fairbanks Capital Management Inc. trimmed its stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 39.6% in the first quarter, HoldingsChannel.com reports. The fund owned 38,323 shares of the company’s stock after selling 25,110 shares during the quarter. Fairbanks Capital Management Inc.’s holdings in iShares Bitcoin Trust ETF were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IBIT. Brighton Jones LLC acquired a new position in iShares Bitcoin Trust ETF in the 4th quarter valued at about $711,000. Bison Wealth LLC purchased a new position in iShares Bitcoin Trust ETF in the 4th quarter valued at about $3,140,000. Royal Bank of Canada boosted its stake in shares of iShares Bitcoin Trust ETF by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,926 shares of the company’s stock worth $2,898,000 after purchasing an additional 2,148 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of iShares Bitcoin Trust ETF by 427.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,172 shares of the company’s stock worth $102,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of iShares Bitcoin Trust ETF during the second quarter worth about $357,000.

iShares Bitcoin Trust ETF Trading Down 0.9%

Shares of NASDAQ IBIT opened at $37.34 on Thursday. iShares Bitcoin Trust ETF has a 12 month low of $32.84 and a 12 month high of $71.82. The company has a 50-day simple moving average of $37.73 and a 200-day simple moving average of $41.28.

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.