iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 5.3% – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) shares were up 5.3% on Tuesday . The company traded as high as $55.86 and last traded at $55.68. Approximately 11,466,628 shares changed hands during trading, a decline of 67% from the average daily volume of 35,168,070 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Trading Up 6.4 %

The company’s 50 day moving average is $49.06 and its 200-day moving average is $40.03.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its stake in iShares Bitcoin Trust by 32.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 38,078 shares of the company’s stock valued at $1,357,000 after purchasing an additional 9,266 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter valued at approximately $656,000. Franklin Resources Inc. acquired a new stake in shares of iShares Bitcoin Trust during the third quarter worth approximately $1,107,000. Tidal Investments LLC grew its position in shares of iShares Bitcoin Trust by 12.4% during the third quarter. Tidal Investments LLC now owns 228,354 shares of the company’s stock worth $8,250,000 after buying an additional 25,232 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in shares of iShares Bitcoin Trust by 31.1% in the third quarter. World Investment Advisors LLC now owns 11,888 shares of the company’s stock worth $430,000 after buying an additional 2,823 shares during the last quarter.

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.