iShares Bitcoin Trust ETF (NASDAQ:IBIT) Shares Gap Up – Time to Buy?

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $37.97, but opened at $39.38. iShares Bitcoin Trust ETF shares last traded at $39.24, with a volume of 11,029,083 shares traded.

iShares Bitcoin Trust ETF Price Performance

The company’s 50-day moving average price is $39.79 and its 200 day moving average price is $50.42.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

Several institutional investors and hedge funds have recently modified their holdings of IBIT. Brighton Jones LLC purchased a new stake in shares of iShares Bitcoin Trust ETF in the 4th quarter worth about $711,000. Bison Wealth LLC bought a new stake in shares of iShares Bitcoin Trust ETF during the fourth quarter valued at approximately $3,140,000. Royal Bank of Canada boosted its position in shares of iShares Bitcoin Trust ETF by 3.6% during the first quarter. Royal Bank of Canada now owns 61,926 shares of the company’s stock valued at $2,898,000 after purchasing an additional 2,148 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of iShares Bitcoin Trust ETF by 427.2% during the first quarter. Jones Financial Companies Lllp now owns 2,172 shares of the company’s stock valued at $102,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of iShares Bitcoin Trust ETF during the second quarter valued at approximately $357,000.

About iShares Bitcoin Trust ETF

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.