iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 0.6% – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price shot up 0.6% on Tuesday . The stock traded as high as $61.75 and last traded at $60.61. 22,034,213 shares changed hands during trading, a decline of 36% from the average session volume of 34,676,430 shares. The stock had previously closed at $60.22.

iShares Bitcoin Trust Price Performance

The firm has a 50-day moving average price of $47.96 and a 200-day moving average price of $39.74.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc purchased a new stake in shares of iShares Bitcoin Trust during the second quarter valued at $26,000. Asset Dedication LLC lifted its stake in iShares Bitcoin Trust by 52.4% during the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of iShares Bitcoin Trust during the 2nd quarter valued at about $31,000. Hantz Financial Services Inc. bought a new stake in shares of iShares Bitcoin Trust in the second quarter worth approximately $36,000. Finally, West Financial Advisors LLC purchased a new position in shares of iShares Bitcoin Trust during the third quarter valued at approximately $40,000.

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.