iShares Bitcoin Trust (NASDAQ:IBIT) Stock Price Up 0.1% – What’s Next?

iShares Bitcoin Trust (NASDAQ:IBIT) shares rose 0.1% during mid-day trading on Thursday . The stock traded as high as $56.32 and last traded at $55.36. Approximately 9,950,501 shares traded hands during trading, a decline of 79% from the average daily volume of 46,639,473 shares. The stock had previously closed at $55.33.

iShares Bitcoin Trust Stock Performance

The business has a fifty day moving average of $56.36 and a 200 day moving average of $44.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IBIT. IMC Chicago LLC purchased a new position in shares of iShares Bitcoin Trust during the third quarter valued at about $323,337,000. Proficio Capital Partners LLC boosted its position in iShares Bitcoin Trust by 6,401.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,645,239 shares of the company’s stock valued at $246,430,000 after acquiring an additional 4,573,794 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in shares of iShares Bitcoin Trust during the 3rd quarter worth approximately $23,686,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of iShares Bitcoin Trust in the 3rd quarter worth approximately $19,149,000. Finally, LMR Partners LLP lifted its stake in shares of iShares Bitcoin Trust by 350.0% in the 3rd quarter. LMR Partners LLP now owns 630,000 shares of the company’s stock valued at $22,762,000 after purchasing an additional 490,000 shares during the period.

About iShares Bitcoin Trust

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.