First Trust Advisors LP Trims Stake in iShares Bitcoin Trust ETF $IBIT

First Trust Advisors LP lessened its stake in shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 10.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 127,212 shares of the company’s stock after selling 14,585 shares during the period. First Trust Advisors LP’s holdings in iShares Bitcoin Trust ETF were worth $4,887,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Insight Advisors LLC PA increased its position in iShares Bitcoin Trust ETF by 11.2% during the first quarter. Insight Advisors LLC PA now owns 17,130 shares of the company’s stock worth $658,000 after buying an additional 1,727 shares in the last quarter. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of iShares Bitcoin Trust ETF in the first quarter valued at $18,480,000. Summit Global Investments boosted its stake in shares of iShares Bitcoin Trust ETF by 6.2% during the first quarter. Summit Global Investments now owns 15,218 shares of the company’s stock valued at $585,000 after acquiring an additional 893 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of iShares Bitcoin Trust ETF by 499.3% during the first quarter. Cassaday & Co Wealth Management LLC now owns 45,227 shares of the company’s stock valued at $1,738,000 after acquiring an additional 37,680 shares during the last quarter. Finally, JMG Financial Group Ltd. boosted its stake in shares of iShares Bitcoin Trust ETF by 9.1% during the first quarter. JMG Financial Group Ltd. now owns 5,825 shares of the company’s stock valued at $224,000 after acquiring an additional 485 shares during the last quarter.

iShares Bitcoin Trust ETF Trading Up 1.5%

iShares Bitcoin Trust ETF stock opened at $36.16 on Tuesday. The stock has a 50-day moving average price of $36.50 and a 200 day moving average price of $40.39. iShares Bitcoin Trust ETF has a 52 week low of $32.84 and a 52 week high of $71.82.

iShares Bitcoin Trust ETF 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.