iShares Bitcoin Trust ETF $IBIT Stock Position Raised by Powell Investment Advisors LLC

Powell Investment Advisors LLC increased its position in iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 53.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 52,880 shares of the company’s stock after purchasing an additional 18,356 shares during the period. iShares Bitcoin Trust ETF comprises about 0.7% of Powell Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Powell Investment Advisors LLC’s holdings in iShares Bitcoin Trust ETF were worth $2,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of iShares Bitcoin Trust ETF in the fourth quarter worth $711,000. Bison Wealth LLC acquired a new position in iShares Bitcoin Trust ETF during the fourth quarter valued at $3,140,000. Royal Bank of Canada raised its position in 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 buying an additional 2,148 shares during the period. Jones Financial Companies Lllp raised its position in 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 buying an additional 1,760 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in iShares Bitcoin Trust ETF in the 2nd quarter worth about $357,000.

iShares Bitcoin Trust ETF Stock Performance

Shares of NASDAQ IBIT opened at $34.18 on Tuesday. iShares Bitcoin Trust ETF has a one year low of $32.84 and a one year high of $71.82. The business has a 50-day moving average price of $40.65 and a two-hundred day moving average price of $42.96.

iShares Bitcoin Trust ETF News Summary

Here are the key news stories impacting iShares Bitcoin Trust ETF this week:

• Negative Sentiment: Bitcoin ETF outflows crossed a record $4 billion in June, signaling sustained institutional selling pressure across the category. Bitcoin ETF outflows cross record $4 billion in June
• Negative Sentiment: Reports said IBIT suffered about $1.3 billion in outflows as investors reduced crypto exposure amid geopolitical uncertainty and weaker demand for “safe money” flows. BlackRock Bitcoin News: IBIT Suffers $1.3Bn Outflow as Iran Shakes Safe Money
• Negative Sentiment: More commentary highlighted record-high Bitcoin ETF outflows and growing worries about a broader “crypto winter,” which is weighing on IBIT sentiment. Bitcoin ETF Outflows Hit Record Highs As Crypto Winter Sets In
• Negative Sentiment: IBIT investors are being reported as deeply underwater, with the average holder now down significantly after Bitcoin’s decline, adding to selling pressure and negative sentiment. BlackRock’s IBIT Sees Average Investor Down 40% Amid Bitcoin Drop
• Neutral Sentiment: IBIT reportedly surpassed Fidelity in assets under management, but that relative scale milestone is being overshadowed by the broader selloff. iShares Bitcoin Trust ETF Tops Fidelity in Assets Under Management
• Neutral Sentiment: Articles promoting Bitcoin ETFs as a safer way to gain crypto exposure may support long-term interest in IBIT, but they do not offset the current outflow trend. You Want Bitcoin, Not the Exchange Horror Stories. These 3 ETFs Get You $25K in Crypto, No Sketchy Apps

iShares Bitcoin Trust ETF 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.