iShares Bitcoin Trust (NASDAQ:IBIT) Shares Up 6.4% – Here’s What Happened

iShares Bitcoin Trust (NASDAQ:IBIT) shot up 6.4% during trading on Wednesday . The stock traded as high as $56.41 and last traded at $56.23. 27,692,662 shares changed hands during trading, a decline of 21% from the average session volume of 35,241,980 shares. The stock had previously closed at $52.87.

iShares Bitcoin Trust Trading Down 3.4 %

The business has a 50-day moving average price of $49.77 and a two-hundred day moving average price of $40.26.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. IMC Chicago LLC acquired a new position in shares of iShares Bitcoin Trust during the third quarter valued at about $323,337,000. D. E. Shaw & Co. Inc. boosted its stake in iShares Bitcoin Trust by 1,657.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,636,608 shares of the company’s stock valued at $90,014,000 after purchasing an additional 2,486,608 shares during the last quarter. Sculptor Capital LP increased its holdings in iShares Bitcoin Trust by 188.1% during the 2nd quarter. Sculptor Capital LP now owns 3,392,812 shares of the company’s stock worth $115,831,000 after purchasing an additional 2,215,107 shares in the last quarter. Aristeia Capital L.L.C. raised its stake in shares of iShares Bitcoin Trust by 47.2% in the second quarter. Aristeia Capital L.L.C. now owns 5,940,411 shares of the company’s stock worth $202,806,000 after purchasing an additional 1,903,644 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of iShares Bitcoin Trust in the second quarter valued at approximately $56,965,000.

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.