iShares Bitcoin Trust (NASDAQ:IBIT) Trading 0.7% Higher – Time to Buy?

iShares Bitcoin Trust (NASDAQ:IBIT) rose 0.7% during trading on Thursday . The company traded as high as $60.39 and last traded at $59.81. Approximately 37,688,374 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 44,994,137 shares. The stock had previously closed at $59.38.

iShares Bitcoin Trust Trading Up 0.3 %

The firm’s 50 day moving average price is $55.44 and its two-hundred day moving average price is $43.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IBIT. Union Savings Bank acquired a new position in iShares Bitcoin Trust during the fourth quarter worth $25,000. City Holding Co. grew its stake in shares of iShares Bitcoin Trust by 95.2% during the 4th quarter. City Holding Co. now owns 488 shares of the company’s stock worth $26,000 after purchasing an additional 238 shares during the period. Asset Dedication LLC increased its holdings in shares of iShares Bitcoin Trust by 52.4% in the 3rd quarter. Asset Dedication LLC now owns 811 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. PSI Advisors LLC purchased a new position in shares of iShares Bitcoin Trust in the 4th quarter valued at about $30,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in iShares Bitcoin Trust by 40.2% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,060 shares of the company’s stock worth $38,000 after buying an additional 304 shares in the last quarter.

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.