Short Interest in iShares Bitcoin Trust (NASDAQ:IBIT) Declines By 54.4%

iShares Bitcoin Trust (NASDAQ:IBIT) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 6,410,000 shares, a drop of 54.4% from the January 31st total of 14,070,000 shares. Based on an average daily volume of 49,000,800 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BridgePort Financial Solutions LLC bought a new stake in iShares Bitcoin Trust in the fourth quarter worth $1,160,000. Bernard Wealth Management Corp. acquired a new position in shares of iShares Bitcoin Trust during the fourth quarter valued at about $66,000. Carolinas Wealth Consulting LLC raised its position in shares of iShares Bitcoin Trust by 8.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 5,049 shares of the company’s stock valued at $268,000 after buying an additional 396 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in iShares Bitcoin Trust in the fourth quarter valued at about $1,130,000. Finally, Integrated Advisors Network LLC increased its stake in iShares Bitcoin Trust by 67.2% in the fourth quarter. Integrated Advisors Network LLC now owns 45,821 shares of the company’s stock valued at $2,431,000 after acquiring an additional 18,410 shares during the period.

iShares Bitcoin Trust Price Performance

Shares of NASDAQ:IBIT traded up $0.55 during trading hours on Friday, hitting $47.90. The stock had a trading volume of 59,402,964 shares, compared to its average volume of 45,855,840. iShares Bitcoin Trust has a 1-year low of $28.23 and a 1-year high of $61.75. The stock’s fifty day simple moving average is $55.25 and its 200 day simple moving average is $46.72.

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.