iShares Bitcoin Trust ETF (NASDAQ:IBIT) Shares Up 6.6% – Should You Buy?

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s stock price shot up 6.6% during trading on Tuesday . The stock traded as high as $51.74 and last traded at $51.69. 27,923,134 shares were traded during trading, a decline of 44% from the average session volume of 49,737,672 shares. The stock had previously closed at $48.50.

iShares Bitcoin Trust ETF Trading Down 0.4%

The firm has a 50-day moving average of $59.50 and a 200 day moving average of $62.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Evermay Wealth Management LLC increased its holdings in iShares Bitcoin Trust ETF by 15.8% during the 2nd quarter. Evermay Wealth Management LLC now owns 1,100 shares of the company’s stock worth $67,000 after purchasing an additional 150 shares during the last quarter. McIlrath & Eck LLC grew its position in shares of iShares Bitcoin Trust ETF by 30.3% during the second quarter. McIlrath & Eck LLC now owns 701 shares of the company’s stock worth $43,000 after buying an additional 163 shares in the last quarter. Vivaldi Capital Management LP grew its position in shares of iShares Bitcoin Trust ETF by 3.3% during the second quarter. Vivaldi Capital Management LP now owns 5,138 shares of the company’s stock worth $314,000 after buying an additional 163 shares in the last quarter. Howard Capital Management Group LLC increased its stake in shares of iShares Bitcoin Trust ETF by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 25,690 shares of the company’s stock worth $1,670,000 after buying an additional 165 shares during the last quarter. Finally, Encompass Wealth Advisors LLC raised its holdings in iShares Bitcoin Trust ETF by 2.2% in the third quarter. Encompass Wealth Advisors LLC now owns 7,660 shares of the company’s stock valued at $498,000 after acquiring an additional 165 shares in the last quarter.

About iShares Bitcoin Trust ETF

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.