Royal Bank of Canada Reduces Stock Position in iShares Bitcoin Trust ETF $IBIT

Royal Bank of Canada cut its stake in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 29.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,336 shares of the company’s stock after selling 19,193 shares during the quarter. Royal Bank of Canada’s holdings in iShares Bitcoin Trust ETF were worth $1,779,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new position in iShares Bitcoin Trust ETF during the fourth quarter worth about $711,000. Bison Wealth LLC bought a new stake in shares of iShares Bitcoin Trust ETF during the 4th quarter valued at about $3,140,000. Jones Financial Companies Lllp grew its holdings in shares of iShares Bitcoin Trust ETF by 427.2% during the first quarter. Jones Financial Companies Lllp now owns 2,172 shares of the company’s stock worth $102,000 after purchasing an additional 1,760 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of iShares Bitcoin Trust ETF during the second quarter worth about $357,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of iShares Bitcoin Trust ETF by 227.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,387 shares of the company’s stock worth $146,000 after purchasing an additional 1,657 shares during the last quarter.

iShares Bitcoin Trust ETF Stock Performance

NASDAQ IBIT opened at $36.60 on Wednesday. The stock’s 50-day simple moving average is $35.92 and its two-hundred day simple moving average is $39.18. iShares Bitcoin Trust ETF has a twelve month low of $32.84 and a twelve month high of $71.82.

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.