Archer Investment Corp Has $1.10 Million Stock Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Archer Investment Corp raised its stake in iShares Bitcoin Trust (NASDAQ:IBIT) by 25.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,713 shares of the company’s stock after acquiring an additional 4,192 shares during the period. Archer Investment Corp’s holdings in iShares Bitcoin Trust were worth $1,099,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Union Savings Bank acquired a new position in iShares Bitcoin Trust in the 4th quarter worth $25,000. City Holding Co. lifted its holdings in shares of iShares Bitcoin Trust by 95.2% in the fourth quarter. City Holding Co. now owns 488 shares of the company’s stock valued at $26,000 after purchasing an additional 238 shares in the last quarter. Stephens Consulting LLC boosted its position in shares of iShares Bitcoin Trust by 62.8% during the fourth quarter. Stephens Consulting LLC now owns 490 shares of the company’s stock worth $26,000 after buying an additional 189 shares during the period. Crewe Advisors LLC grew its holdings in shares of iShares Bitcoin Trust by 151.0% during the fourth quarter. Crewe Advisors LLC now owns 502 shares of the company’s stock worth $27,000 after buying an additional 302 shares in the last quarter. Finally, PSI Advisors LLC bought a new position in shares of iShares Bitcoin Trust during the fourth quarter worth about $30,000.

iShares Bitcoin Trust Stock Performance

NASDAQ IBIT opened at $55.12 on Friday. iShares Bitcoin Trust has a 52 week low of $24.49 and a 52 week high of $61.75. The stock’s 50 day moving average price is $56.36 and its two-hundred day moving average price is $44.62.

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.