Encompass More Asset Management Lowers Stock Holdings in iShares Bitcoin Trust (NASDAQ:IBIT)

Encompass More Asset Management reduced its position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,008 shares of the company’s stock after selling 5,652 shares during the period. iShares Bitcoin Trust makes up about 2.6% of Encompass More Asset Management’s portfolio, making the stock its 5th biggest holding. Encompass More Asset Management’s holdings in iShares Bitcoin Trust were worth $7,905,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of iShares Bitcoin Trust by 42.6% during the second quarter. Envestnet Asset Management Inc. now owns 108,497 shares of the company’s stock worth $3,704,000 after buying an additional 32,416 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in iShares Bitcoin Trust in the 2nd quarter worth about $505,000. Thrivent Financial for Lutherans boosted its holdings in iShares Bitcoin Trust by 12.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 15,505 shares of the company’s stock valued at $529,000 after purchasing an additional 1,748 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of iShares Bitcoin Trust in the second quarter valued at approximately $216,000. Finally, Bank of Montreal Can boosted its stake in shares of iShares Bitcoin Trust by 0.5% in the second quarter. Bank of Montreal Can now owns 134,332 shares of the company’s stock valued at $4,586,000 after buying an additional 723 shares during the period.

iShares Bitcoin Trust Stock Performance

iShares Bitcoin Trust stock opened at $59.78 on Friday. The stock’s fifty day moving average price is $55.44 and its two-hundred day moving average price is $43.00. iShares Bitcoin Trust has a one year low of $22.58 and a one year high of $61.75.

iShares Bitcoin Trust 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.