iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.7% – Here’s What Happened

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) shot up 0.7% on Thursday . The company traded as high as $60.39 and last traded at $59.81. 37,688,374 shares changed hands during trading, a decline of 16% from the average session volume of 44,994,137 shares. The stock had previously closed at $59.38.

iShares Bitcoin Trust Stock Up 1.5 %

The company’s 50 day moving average price is $55.77 and its two-hundred day moving average price is $43.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. IMC Chicago LLC bought a new position in iShares Bitcoin Trust in the 3rd quarter valued at $323,337,000. D. E. Shaw & Co. Inc. grew its holdings in shares of iShares Bitcoin Trust by 1,657.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after purchasing an additional 2,486,608 shares during the last quarter. Sculptor Capital LP increased its stake in iShares Bitcoin Trust by 188.1% in the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after buying an additional 2,215,107 shares during the period. Murchinson Ltd. lifted its holdings in iShares Bitcoin Trust by 87.1% during the 2nd quarter. Murchinson Ltd. now owns 1,642,535 shares of the company’s stock valued at $56,076,000 after buying an additional 764,575 shares in the last quarter. Finally, Clear Street Derivatives LLC purchased a new stake in iShares Bitcoin Trust in the 3rd quarter valued at about $23,686,000.

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.