iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 4.4% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) shares rose 4.4% during trading on Monday . The company traded as high as $60.41 and last traded at $59.62. Approximately 70,436,318 shares traded hands during trading, an increase of 57% from the average daily volume of 44,819,953 shares. The stock had previously closed at $57.09.

iShares Bitcoin Trust Stock Up 4.4 %

The firm’s 50 day moving average is $54.88 and its two-hundred day moving average is $42.51.

Institutional Trading of iShares Bitcoin Trust

A number of hedge funds have recently added to or reduced their stakes in IBIT. City Holding Co. raised its stake in iShares Bitcoin Trust by 95.2% during the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after purchasing an additional 238 shares during the period. Asset Dedication LLC raised its position in shares of iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after buying an additional 279 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in iShares Bitcoin Trust by 40.2% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock valued at $38,000 after acquiring an additional 304 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in iShares Bitcoin Trust by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 88,837 shares of the company’s stock valued at $4,713,000 after acquiring an additional 320 shares during the last quarter. Finally, Doliver Advisors LP grew its position in iShares Bitcoin Trust by 4.9% during the third quarter. Doliver Advisors LP now owns 7,558 shares of the company’s stock valued at $273,000 after acquiring an additional 350 shares during the period.

About iShares Bitcoin Trust

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.