iShares Bitcoin Trust (NASDAQ:IBIT) Trading 2.5% Higher – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT)’s stock price shot up 2.5% during mid-day trading on Monday . The stock traded as high as $58.21 and last traded at $57.80. 50,016,990 shares were traded during trading, an increase of 46% from the average session volume of 34,374,723 shares. The stock had previously closed at $56.40.

iShares Bitcoin Trust Stock Performance

The company has a 50-day moving average of $45.16 and a 200-day moving average of $38.92.

Hedge Funds Weigh In On iShares Bitcoin Trust

Several hedge funds have recently modified their holdings of IBIT. IMC Chicago LLC purchased a new stake in iShares Bitcoin Trust during the 3rd quarter worth approximately $323,337,000. D. E. Shaw & Co. Inc. lifted its stake in shares of iShares Bitcoin Trust by 1,657.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock worth $90,014,000 after buying an additional 2,486,608 shares during the period. Sculptor Capital LP lifted its stake in shares of iShares Bitcoin Trust by 188.1% during the second quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after buying an additional 2,215,107 shares during the period. Aristeia Capital L.L.C. grew its holdings in shares of iShares Bitcoin Trust by 47.2% during the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock valued at $202,806,000 after buying an additional 1,903,644 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of iShares Bitcoin Trust in the 2nd quarter valued at $56,965,000.

iShares Bitcoin Trust Company 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.