GSG Advisors LLC Buys New Shares in iShares Bitcoin Trust (NASDAQ:IBIT)

GSG Advisors LLC bought a new stake in iShares Bitcoin Trust (NASDAQ:IBIT) in the second quarter, HoldingsChannel reports. The fund bought 8,000 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Signal Advisors Wealth LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $832,000. LexAurum Advisors LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $485,000. Salem Investment Counselors Inc. bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $41,000. Catalyst Private Wealth LLC bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $212,000. Finally, Traynor Capital Management Inc. bought a new position in shares of iShares Bitcoin Trust in the 1st quarter valued at about $3,666,000.

iShares Bitcoin Trust Stock Performance

Shares of IBIT traded up $0.72 during midday trading on Friday, reaching $34.60. The stock had a trading volume of 18,872,717 shares, compared to its average volume of 31,835,475. The firm has a 50 day simple moving average of $36.13 and a 200-day simple moving average of $35.30. iShares Bitcoin Trust has a one year low of $22.02 and a one year high of $41.99.

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.