iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 2.6% – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s share price rose 2.6% during mid-day trading on Friday . The company traded as high as $60.58 and last traded at $60.33. Approximately 14,321,011 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 48,432,621 shares. The stock had previously closed at $58.79.

iShares Bitcoin Trust Price Performance

The company’s 50 day moving average is $55.77 and its 200 day moving average is $43.38.

Institutional Investors Weigh In On iShares Bitcoin Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Union Savings Bank acquired a new position in iShares Bitcoin Trust in the 4th quarter valued at $25,000. City Holding Co. raised its stake in iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after purchasing an additional 238 shares in the last quarter. PSI Advisors LLC bought a new stake in iShares Bitcoin Trust during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in iShares Bitcoin Trust during the fourth quarter worth about $39,000. Finally, New Wave Wealth Advisors LLC bought a new position in iShares Bitcoin Trust in the 4th quarter valued at about $43,000.

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.