Elevate Capital Advisors LLC Takes $1.70 Million Position in iShares Bitcoin Trust (NASDAQ:IBIT)

Elevate Capital Advisors LLC bought a new position in shares of iShares Bitcoin Trust (NASDAQ:IBIT) in the fourth quarter, HoldingsChannel reports. The firm bought 32,025 shares of the company’s stock, valued at approximately $1,699,000. iShares Bitcoin Trust accounts for 1.5% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

Several other large investors also recently modified their holdings of the business. Truist Financial Corp lifted its holdings in iShares Bitcoin Trust by 17.2% in the 2nd quarter. Truist Financial Corp now owns 9,801 shares of the company’s stock worth $335,000 after buying an additional 1,436 shares during the period. Sanctuary Advisors LLC bought a new position in shares of iShares Bitcoin Trust during the second quarter valued at approximately $392,000. Dynamic Advisor Solutions LLC purchased a new stake in iShares Bitcoin Trust in the third quarter worth $247,000. CWM LLC boosted its holdings in iShares Bitcoin Trust by 126.4% in the third quarter. CWM LLC now owns 79,775 shares of the company’s stock valued at $2,882,000 after acquiring an additional 44,539 shares in the last quarter. Finally, Octavia Wealth Advisors LLC purchased a new position in iShares Bitcoin Trust during the 3rd quarter valued at $320,000.

iShares Bitcoin Trust Stock Down 1.2 %

NASDAQ:IBIT opened at $54.47 on Monday. The company has a 50-day moving average price of $56.35 and a 200-day moving average price of $44.86. iShares Bitcoin Trust has a 12 month low of $25.64 and a 12 month high of $61.75.

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.