Pekin Hardy Strauss Inc. Increases Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Pekin Hardy Strauss Inc. boosted its holdings in iShares Bitcoin Trust (NASDAQ:IBIT) by 42.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,966 shares of the company’s stock after purchasing an additional 48,385 shares during the quarter. iShares Bitcoin Trust comprises 1.1% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 15th largest position. Pekin Hardy Strauss Inc.’s holdings in iShares Bitcoin Trust were worth $8,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Union Savings Bank purchased a new stake in iShares Bitcoin Trust in the fourth quarter worth about $25,000. City Holding Co. grew its holdings in iShares Bitcoin Trust by 95.2% in 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 grew its holdings in iShares Bitcoin Trust by 62.8% in 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 grew its holdings in iShares Bitcoin Trust by 151.0% in 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, Beacon Capital Management LLC purchased a new stake in iShares Bitcoin Trust in the fourth quarter worth about $28,000.

iShares Bitcoin Trust Stock Performance

Shares of IBIT opened at $53.94 on Friday. iShares Bitcoin Trust has a fifty-two week low of $28.23 and a fifty-two week high of $61.75. The firm’s 50-day simple moving average is $56.07 and its two-hundred day simple moving average is $46.07.

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.