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

iShares Bitcoin Trust (NASDAQ:IBIT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $52.87, but opened at $55.06. iShares Bitcoin Trust shares last traded at $55.44, with a volume of 8,675,195 shares traded.

iShares Bitcoin Trust Trading Up 5.3 %

The firm has a 50-day moving average of $49.06 and a 200 day moving average of $40.03.

Institutional Trading of iShares Bitcoin Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBIT. Cambridge Investment Research Advisors Inc. raised its holdings in shares of iShares Bitcoin Trust by 90.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 526,997 shares of the company’s stock valued at $17,992,000 after purchasing an additional 250,783 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of iShares Bitcoin Trust by 71.5% during the 2nd quarter. Atomi Financial Group Inc. now owns 9,508 shares of the company’s stock worth $325,000 after acquiring an additional 3,964 shares during the period. Eagle Bay Advisors LLC increased its holdings in shares of iShares Bitcoin Trust by 68.0% during the 2nd quarter. Eagle Bay Advisors LLC now owns 2,179 shares of the company’s stock worth $74,000 after acquiring an additional 882 shares during the last quarter. WealthShield Partners LLC raised its stake in iShares Bitcoin Trust by 19.3% in the 2nd quarter. WealthShield Partners LLC now owns 12,733 shares of the company’s stock valued at $435,000 after acquiring an additional 2,063 shares during the period. Finally, Rosenberg Matthew Hamilton bought a new position in iShares Bitcoin Trust during the second quarter worth $57,000.

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.