iShares Bitcoin Trust (NASDAQ:IBIT) Sets New 1-Year High – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) shares hit a new 52-week high on Tuesday . The company traded as high as $53.42 and last traded at $53.16, with a volume of 45179207 shares changing hands. The stock had previously closed at $52.13.

iShares Bitcoin Trust Stock Up 1.1 %

The business’s 50-day moving average price is $38.78 and its 200-day moving average price is $36.91.

Institutional Trading of iShares Bitcoin Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. IMC Chicago LLC purchased a new stake in shares of iShares Bitcoin Trust during the 3rd quarter worth about $323,337,000. D. E. Shaw & Co. Inc. raised its holdings in shares of iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock valued at $90,014,000 after purchasing an additional 2,486,608 shares in the last quarter. Sculptor Capital LP lifted its stake in shares of iShares Bitcoin Trust by 188.1% in the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock valued at $115,831,000 after purchasing an additional 2,215,107 shares during the last quarter. Aristeia Capital L.L.C. boosted its holdings in iShares Bitcoin Trust by 47.2% in the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock worth $202,806,000 after purchasing an additional 1,903,644 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in iShares Bitcoin Trust during the second quarter worth $56,965,000.

iShares Bitcoin Trust 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.