iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 2.5% – Should You Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price were up 2.5% during mid-day trading on Monday . The stock traded as high as $58.21 and last traded at $57.80. 50,016,990 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 34,374,723 shares. The stock had previously closed at $56.40.

iShares Bitcoin Trust Trading Up 0.3 %

The stock has a fifty day moving average of $45.16 and a 200 day moving average of $38.92.

Institutional Trading of iShares Bitcoin Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank purchased a new position in shares of iShares Bitcoin Trust during the first quarter worth $225,000. RFG Advisory LLC purchased a new position in iShares Bitcoin Trust in the second quarter valued at $340,000. Sequoia Financial Advisors LLC raised its position in shares of iShares Bitcoin Trust by 40.4% in the second quarter. Sequoia Financial Advisors LLC now owns 21,122 shares of the company’s stock worth $721,000 after acquiring an additional 6,083 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of iShares Bitcoin Trust by 3.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 87,072 shares of the company’s stock worth $2,973,000 after acquiring an additional 2,653 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position in shares of iShares Bitcoin Trust by 50.3% during the 2nd quarter. SteelPeak Wealth LLC now owns 10,109 shares of the company’s stock valued at $345,000 after acquiring an additional 3,383 shares during the period.

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.