Encompass Wealth Advisors LLC Makes New Investment in iShares Bitcoin Trust (NASDAQ:IBIT)

Encompass Wealth Advisors LLC purchased a new stake in shares of iShares Bitcoin Trust (NASDAQ:IBIT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,808 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IMC Chicago LLC acquired a new stake in shares of iShares Bitcoin Trust in the third quarter valued at $323,337,000. Clear Street Derivatives LLC acquired a new stake in iShares Bitcoin Trust in the 3rd quarter valued at about $23,686,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of iShares Bitcoin Trust during the 3rd quarter valued at about $19,149,000. LMR Partners LLP grew its stake in shares of iShares Bitcoin Trust by 350.0% in the 3rd quarter. LMR Partners LLP now owns 630,000 shares of the company’s stock worth $22,762,000 after purchasing an additional 490,000 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. raised its holdings in shares of iShares Bitcoin Trust by 3,525.8% in the 4th quarter. Verde Servicos Internacionais S.A. now owns 435,100 shares of the company’s stock worth $23,082,000 after purchasing an additional 423,100 shares in the last quarter.

iShares Bitcoin Trust Stock Performance

Shares of NASDAQ:IBIT opened at $55.12 on Friday. iShares Bitcoin Trust has a 1-year low of $24.49 and a 1-year high of $61.75. The company has a 50 day moving average price of $56.36 and a 200 day moving average price of $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.