Sovran Advisors LLC Acquires Shares of 178,711 iShares Bitcoin Trust (NASDAQ:IBIT)

Sovran Advisors LLC acquired a new stake in iShares Bitcoin Trust (NASDAQ:IBIT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 178,711 shares of the company’s stock, valued at approximately $9,799,000. iShares Bitcoin Trust accounts for approximately 1.4% of Sovran Advisors LLC’s holdings, making the stock its 13th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Union Savings Bank bought a new position in shares of iShares Bitcoin Trust during the fourth quarter worth approximately $25,000. City Holding Co. increased its stake in shares of 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. Stephens Consulting LLC increased its stake in shares of iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after purchasing an additional 189 shares during the period. Crewe Advisors LLC increased its stake in shares of iShares Bitcoin Trust by 151.0% during the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after purchasing an additional 302 shares during the period. Finally, Asset Dedication LLC increased its stake in shares of iShares Bitcoin Trust by 52.4% during the third quarter. Asset Dedication LLC now owns 811 shares of the company’s stock worth $29,000 after purchasing an additional 279 shares during the period.

iShares Bitcoin Trust Trading Up 1.7 %

Shares of NASDAQ IBIT opened at $55.38 on Tuesday. iShares Bitcoin Trust has a 1-year low of $27.51 and a 1-year high of $61.75. The business’s 50 day moving average is $56.35 and its 200-day moving average is $44.91.

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.