iShares Bitcoin Trust ETF (NASDAQ:IBIT) Shares Up 5% – Here’s Why

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s stock price traded up 5% during mid-day trading on Friday . The company traded as high as $45.59 and last traded at $45.4480. Approximately 19,063,376 shares traded hands during trading, a decline of 64% from the average daily volume of 53,015,977 shares. The stock had previously closed at $43.30.

iShares Bitcoin Trust ETF Trading Up 6.0%

The firm’s 50-day moving average price is $39.70 and its 200 day moving average price is $39.83.

Hedge Funds Weigh In On iShares Bitcoin Trust ETF

Several institutional investors have recently bought and sold shares of the stock. Al Warda Investments RSC Ltd lifted its holdings in iShares Bitcoin Trust ETF by 3.2% in the 4th quarter. Al Warda Investments RSC Ltd now owns 8,218,712 shares of the company’s stock worth $408,059,000 after purchasing an additional 255,319 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of iShares Bitcoin Trust ETF by 16.4% in the fourth quarter. Macquarie Group Ltd. now owns 5,126,143 shares of the company’s stock valued at $254,513,000 after purchasing an additional 721,351 shares during the last quarter. 59 North Capital Management LP increased its stake in shares of iShares Bitcoin Trust ETF by 50.7% in the fourth quarter. 59 North Capital Management LP now owns 3,921,034 shares of the company’s stock worth $194,679,000 after purchasing an additional 1,319,501 shares during the period. NEOS Investment Management LLC lifted its position in shares of iShares Bitcoin Trust ETF by 55.4% during the 2nd quarter. NEOS Investment Management LLC now owns 5,424,563 shares of the company’s stock worth $180,584,000 after purchasing an additional 1,933,888 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in iShares Bitcoin Trust ETF by 332.4% in the 1st quarter. Walleye Capital LLC now owns 4,317,555 shares of the company’s stock valued at $165,880,000 after buying an additional 3,319,115 shares during the last quarter.

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.