iShares Bitcoin Trust (NASDAQ:IBIT) Trading Up 0.3% – Should You Buy?

Shares of iShares Bitcoin Trust (NASDAQ:IBIT) traded up 0.3% during mid-day trading on Monday . The company traded as high as $56.36 and last traded at $55.21. 30,337,331 shares were traded during trading, a decline of 10% from the average session volume of 33,846,176 shares. The stock had previously closed at $55.03.

iShares Bitcoin Trust Stock Up 0.3 %

The firm has a 50 day moving average price of $42.45 and a 200 day moving average price of $38.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new stake in iShares Bitcoin Trust in the 1st quarter worth approximately $59,000. Comerica Bank purchased a new stake in shares of iShares Bitcoin Trust in the first quarter worth $225,000. EverSource Wealth Advisors LLC bought a new stake in shares of iShares Bitcoin Trust during the 1st quarter valued at $310,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at $36,000. Finally, Mather Group LLC. purchased a new position in shares of iShares Bitcoin Trust during the 2nd quarter valued at $85,000.

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.