Udine Wealth Management Inc. Invests $2.04 Million in iShares Bitcoin Trust (NASDAQ:IBIT)

Udine Wealth Management Inc. acquired a new position in iShares Bitcoin Trust (NASDAQ:IBIT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,280 shares of the company’s stock, valued at approximately $2,035,000. iShares Bitcoin Trust makes up approximately 1.5% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 18th largest position.

A number of other large investors have also recently bought and sold shares of the business. Pettinga Financial Advisors LLC bought a new stake in iShares Bitcoin Trust in the first quarter worth $204,000. Compass Ion Advisors LLC bought a new stake in iShares Bitcoin Trust in the first quarter worth $345,000. SteelPeak Wealth LLC bought a new stake in iShares Bitcoin Trust in the first quarter worth $272,000. Deltec Asset Management LLC bought a new stake in iShares Bitcoin Trust during the first quarter valued at about $2,890,000. Finally, Fiduciary Alliance LLC bought a new stake in iShares Bitcoin Trust during the first quarter valued at about $5,380,000.

iShares Bitcoin Trust Price Performance

IBIT stock traded up $1.88 during mid-day trading on Monday, reaching $36.02. 7,710,570 shares of the stock traded hands, compared to its average volume of 32,189,133. iShares Bitcoin Trust has a 52 week low of $22.02 and a 52 week high of $41.99. The stock has a 50-day simple moving average of $37.18.

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.