Kellett Wealth Advisors LLC Invests $220,000 in iShares Bitcoin Trust (NASDAQ:IBIT)

Kellett Wealth Advisors LLC bought a new stake in iShares Bitcoin Trust (NASDAQ:IBIT) in the fourth quarter, HoldingsChannel reports. The fund bought 4,148 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds have also added to or reduced their stakes in IBIT. Lake Street Advisors Group LLC boosted its stake in shares of iShares Bitcoin Trust by 71.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 40,791 shares of the company’s stock worth $2,164,000 after buying an additional 16,982 shares during the last quarter. Provident Wealth Management LLC bought a new position in iShares Bitcoin Trust in the fourth quarter valued at approximately $265,000. Kirtland Hills Capital Management LLC acquired a new position in shares of iShares Bitcoin Trust during the 4th quarter worth approximately $246,000. Ackerman Capital Advisors LLC raised its stake in shares of iShares Bitcoin Trust by 2.0% during the 4th quarter. Ackerman Capital Advisors LLC now owns 18,209 shares of the company’s stock worth $966,000 after purchasing an additional 357 shares in the last quarter. Finally, Sprott Inc. acquired a new stake in shares of iShares Bitcoin Trust in the 4th quarter valued at approximately $219,000.

iShares Bitcoin Trust Stock Performance

Shares of IBIT opened at $50.03 on Wednesday. The company’s fifty day simple moving average is $55.72 and its 200 day simple moving average is $46.52. iShares Bitcoin Trust has a 1-year low of $28.23 and a 1-year high of $61.75.

iShares Bitcoin Trust 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.